BOSTON (Thomson Financial) - Genelabs Technologies Inc. said Monday it has
regained full development and licensing rights in Japan for its lupus drug
Prestara.
The Redwood City, Calif.-based biopharmaceutical company signed a
termination agreement with Mitsubishi Tanabe Pharma Corp. under which Genelabs
Technologies regained exclusive rights to the drug.
Under terms of the termination agreement, no payments will be made by either
company.
Shares of Genelabs Technologies closed Friday at $1.68.
Casey Logan
cl/tk1
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|