CHICAGO (AP) - Advanced Life Sciences Holdings Inc. and Wyeth said Wednesday they signed a contract to develop and sell the antibiotic cethromycin in the Asia Pacific region, excluding Japan.
Under the deal, Wyeth bought 4.9 percent of Advanced Life Sciences outstanding stock and will pay future royalties.
Cethromycin is a once-a-day treatment for community respiratory tract infections. Advanced Life Sciences has already asked the FDA to approve the drug as a treatment for mild-to-moderate community acquired pneumonia.
Advanced Life Sciences will retain exclusive rights to cethromycin in the rest of the world, including North America and Europe. The companies will collaborate to develop additional data on the drug to support more indications in the Asia-Pacific region, with the total partnership worth $100 million to Advanced Life Sciences.
Shares of Woodridge, Ill.-based Advanced Life Sciences were unchanged at 81 cents in morning trading. Shares of Madison, N.J.-based Wyeth fell 7 cents to $36.87.
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