Myriad Genetics : Results of U.S. Phase 3 Trial of Flurizan in Alzheimer's Disease

Jun 30, 2008 - Flurizan Fails to Achieve Significance on Either Co-Primary Endpoint; Company Has Decided to Discontinue Its Development of Flurizan - Myriad Genetics, Inc. (NASDAQ: MYGN) announced results of the Act-Earli-AD trial, an 18-month Phase 3 study of Flurizan (tarenflurbil) in patients with mild Alzheimer's disease. The study did not achieve statistical significance on either of its primary endpoints -- cognition and activities of daily living... Myriad Genetics' Press Release -

Lundbeck : European commercialization rights for Flurizan® from Myriad, USA - a new drug in final phase III development for the treatment of Alzheimer

22-05-2008 - H. Lundbeck A/S and Myriad Genetics, Inc. announced that Lundbeck has acquired European commercialization rights to Myriad's Flurizan® (tarenflurbil). Flurizan® might have the potential to delay disability in patients suffering from Alzheimer's disease.
Myriad and Lundbeck have entered into a European commercialization agreement under which Lundbeck will have rights to market and sell Flurizan® in the European Union and several associated non-EU countries and will manage the regulatory process.

Lundbeck has agreed to pay Myriad an initial USD 100 million and will pay up to USD 250 million in connection with regulatory approvals. Furthermore, Lundbeck has agreed to pay attractive commercialization milestones and will purchase bulk pharmaceutical material from Myriad.
Lundbeck has also agreed to pay escalating royalties of 20 - 39% on sales less the amount paid for the bulk drug... Lundbeck's Press Release -