We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Northwestern Sells Drug Royalty Rights For $700M

Law360 (December 19, 2007, 12:00 AM EST) -- Northwestern University has sold part of its royalty rights to the pain therapy Lyrica to Royalty Pharma for $700 million in cash, the largest sale of its type yet made.

Researchers at Northwestern first synthesized the chemical compound pregabalin, which is the basis for the drug. The payment will largely end up in Northwestern University's endowment, with a portion reserved for those researchers.

“Essentially, we are converting a potential stream of future royalty revenues from Lyrica into an immediate cash payment,” said Eugene S. Sunshine, Northwestern's...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.