Schering-Plough licenses Valeant, Metabasis drug

From Bloomberg News

Schering-Plough Corp. said it agreed to license an experimental treatment for hepatitis B from Valeant Pharmaceuticals International and Metabasis Therapeutics Inc.

Costa Mesa-based Valeant will receive an upfront payment of $19.2 million, and La Jolla-based Metabasis, $1.8 million, Schering-Plough said.

Valeant licensed the drug, pradefovir, in 2000 from Metabasis and has been testing it for hepatitis B, a potentially fatal liver disease that affects 2 billion people, the company said.

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