Ariad Pharmaceuticals agrees to sell European operations to Incyte
Ariad Pharmaceuticals has agreed to sell its European operations and out-license the commercial rights to Iclusig in Europe to the US-based biopharmaceutical firm Incyte.
Under the deal, Incyte will make a $140m upfront payment to Ariad plus pay royalties of up to 50% on European sales of Iclusig.
Incyte will also take over Ariad's team of 125 employees in Europe.
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