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Incremental Commercial Services in Exchange for Product-Based Return
Situation
A global pharmaceutical company had a new formulation of a core strategic asset half way through its pivotal Phase III studies, but another major product launch at the company was generating such significant expenses that it was squeezing the budget for this and other development programs.
Solution
PharmaBio Development, NovaQuest's predecessor, alleviated the pressure by committing to fund $90 million in pre-marketing and commercial services. In return, NovaQuest is receiving a variety of product-based returns.
Value Added
The deal kept development of the new formulation on track and matched the risks of pre-launch services to future returns.
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