Concert Pharmaceuticals Inc. has received a second request from the Federal Trade Commission for the acquisition of CTP-656, as well as other options for cystic fibrosis treatment, produced by Vertex Pharmaceuticals Inc.
The asset purchase agreement states that Vertex will be paying $160 million to Concert for the development, as well as commercialization rights for Concert's cystic fibrosis assets around the world.
Concert's annual meeting with stockholders was held May 24, during which time the asset purchase agreement was discussed. The board of directors for Concert is unwavering in its approval of the agreement and the company hopes to close the deal by the end of October.
Concert may be able to receive $90 million in milestones if they receive regulatory approval within the United States in addition to reimbursement in the United Kingdom, Germany or France.
Alerts Sign-up