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Actionable news in SPPI: Spectrum Pharmaceuticals, Inc.,

Entry into a Material Definitive


), a wholly-owned subsidiary of Spectrum Pharmaceuticals, Inc. (


), entered into a License and Asset Purchase Agreement (the

License Agreement

), by and between the Company and Mundipharma International Corporation Limited (


) with regards to the commercialization of ZEVALIN

in select territories. Pursuant to the terms of the transaction, the Company is to receive $20.0 million, comprised of an upfront payment of $15 million plus $5 million in profits on initial ZEVALIN supply, under the License Agreement and the Supply Agreement as described below.

Pursuant to the terms of the License Agreement, Mundipharma will pay the Company a non-refundable upfront payment of $15 million and gain exclusive commercialization rights to ZEVALIN in Asia excluding India and Greater China (China, Hong Kong, Taiwan and Macau), Australia/New Zealand, Africa, the Middle East and Latin America including the Caribbean. Additionally, Mundipharma will assume certain liabilities and will reimburse the Company for its third party royalty obligations incurred as a result of Mundipharmas activities under the License Agreement. The Company will retain exclusive rights to commercialize ZEVALIN in its core markets including the United States, Canada, and Europe (including Russia and the Commonwealth of Independent States). The License Agreement will remain in effect, on a product-by-product basis and country-by-country basis, for the longer of the term of last-to-expire valid and enforceable patent covering the marketing and sale of the licensed product in...