Baxter has invested heavily in mm-398, a new pancreatic cancer drug

Source: great wisdom astak news agency announced on Wednesday that the company will invest to buy Merrimack pharmaceutical's new pancreatic cancer drug mm-398 Mm-398 is a nano liposome sealed irinotecan The drug was awarded the title of orphan drug by the US Food and Drug Administration (FDA) and the European drug administration According to the agreement signed by the two sides, Baite will pay Merrimack $100 million in the first batch, which will receive an additional $400 million after the first and second indications research and approval of the new drug reach the expected goal In addition, Merrimack received $220 million after expanding the two indications of mm-398, and a sales share of $250 million after the product was launched After the acquisition, Baite will have the right to use mm-398 in all regions except the United States and Taiwan Merrimack pharmaceutical is in charge of the US market, while Taiwan is owned by pharmaengine Merrimack plans to submit a new drug application for mm-398 to FDA in 2014 Baite will launch new drug applications in other regions in 2015.