Mallinckrodt expands rights to imaging agent:
This article was originally published in Clinica
Mallinckrodt's marketing rights for Molecular Biosystem's imaging agent, FS609, will now encompass Europe, Africa, India and Russia as well as the US. In October, the two companies submitted a PMA to the US FDA for the agent, and they intend to seek market clearance in Europe in early 1997. Mallinckrodt will pay $12.9 million for the rights as well as 40% of product sales to cover royalties and manufacturing. An initial payment of $7.1 million is payable within 30 days, with the remainder becoming due as agreed milestones are met.