December 21, 2007 / 8:11 PM / 11 years ago

Schering-Plough, Centocor extend distribution agreement

Dec 21 (Reuters) - Schering-Plough Corp SGP.N extended its distribution agreement with Centocor Inc for the rights to market two products, remicade and golimumab, for 15 years after the first golimumab sale.

In a joint statement, the companies said the agreement will allow Schering-Plough to independently develop and market golimumab for Crohn’s disease indication in its territories, with an option for Centocor to participate in the program.

The deal also provides for Schering-Plough to make an upfront payment of $20.5 million in the 2007 fourth quarter for rights to an autoinjector device, which would allow patients to self-administer golimumab under the skin. (Reporting by Dhanya Skariachan in Bangalore; )

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