|30 October 2006|
Mayer, Brown, Rowe & Maw advises AstraZeneca and CAT on sale of Humira® royalty stream to Royalty Pharma
Mayer, Brown, Rowe & Maw LLP
|30 October 2006 - International law firm Mayer, Brown, Rowe & Maw LLP's Corporate group has acted for AstraZeneca and its subsidiary Cambridge Antibody Technology Limited (CAT) in the disposal by CAT of its Humira® royalty stream to Royalty Pharma for a cash consideration of around $700 million. The sale signed and completed on 25 October. |
This was an innovative deal for AstraZeneca and relates to the first product from the UK biotech industry to achieve blockbuster status. Humira® is a drug developed and marketed by Abbott to treat rheumatoid arthritis.
London senior partner Paul Maher and IP partner Sarah Byrt led the Mayer, Brown, Rowe & Maw team, supported by tax partner Peter Steiner, corporate associates Karrie Walsh and Hwei Tan and IP associate Sangeeta Puran. US law support was provided within the London office by Mark Uhrynuk and Paul de Bernier.
Goodwin Procter of Boston advised Royalty Pharma.
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