Ropes & Gray Represents Sunovion Pharmaceuticals in Billion-Dollar Deal with Otsuka
Ropes & Gray advised Sunovion Pharmaceuticals Inc., a subsidiary of Japan’s Sumitomo Dainippon Pharma, in a worldwide co-development and co-commercialization agreement with Otsuka Pharmaceutical Co., Ltd. for four novel neurology drugs, two of which are in Phase 3 development. The transaction was announced on September 30.
Under the agreement, Otsuka will pay $270 million upfront, and Sunovion is also eligible for development milestone payments of up to $620 million or more if certain development milestones are reached. Otsuka may also make additional commercial milestones. The companies will share both profits and development costs, and will work together on regulatory and commercialization activities.
The Ropes & Gray team was led by IP transactions partner Hannah England (Freeman) and IP transactions associate Ana Gomez-Palazzo (both of Boston), and included antitrust partner Mike McFalls (Washington, D.C.), litigation & enforcement partner Ruchit Patel (London) and litigation and enforcement counsel Deidre Johnson (Boston).