By Geoffrey Rogow
ImClone Systems Inc. and Bristol-Myers Squibb Co. /zigman2/quotes/202559280/composite BMY +0.13% Wednesday said they signed an agreement with Merck KGaA (MRK.XE) for the co-development and co-commercialization of cancer treatment Erbitux in Japan.
Following regulatory approval of the product, ImClone, Bristol-Myers and Merck will market Erbitux in Japan for the treatment of epidermal growth factor receptor-expressing metastatic colorectal cancer, as well as possibly for other cancers.
The companies said Merck KGaA will receive 50% of the profit or loss from sales in Japan, while ImClone Systems and Bristol-Myers will each receive 25%.
In addition, ImClone Systems will receive from Merck KGaA a royalty of 4.75% of the total net sales in Japan.
ImClone, Bristol-Myers and Merck KGaA submitted an application in Japan earlier this year for the use of Erbitux in treating patients with epidermal growth factor receptor-expressing metastatic colorectal cancer.