GENFIT Says Iqirvo Is First-ever Drug Developed In-house By Company To Achieve FDA Approval; Expects To Receive Milestone Payments From Ipsen
Portfolio Pulse from Benzinga Newsdesk
GENFIT's Iqirvo, the first-ever drug developed in-house by the company, has received FDA approval. GENFIT is set to receive a €48.7 million milestone payment from Ipsen upon the first commercial sale in the U.S., along with tiered double-digit royalties up to 20%.
June 10, 2024 | 9:26 pm
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POSITIVE IMPACT
GENFIT's Iqirvo has received FDA approval, marking a significant milestone for the company. GENFIT will receive a €48.7 million milestone payment from Ipsen and up to 20% in royalties.
The FDA approval of Iqirvo is a major achievement for GENFIT, being the first in-house developed drug to reach this milestone. The financial benefits from milestone payments and royalties are likely to positively impact the company's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Ipsen's Iqirvo has received FDA approval, which will trigger a €48.7 million milestone payment to GENFIT and up to 20% in royalties. This approval could enhance Ipsen's revenue stream.
The FDA approval of Iqirvo is likely to positively impact Ipsen's revenue through the commercialization of the drug. The milestone payment and royalties to GENFIT are part of the financial arrangement, but the approval itself is a significant positive for Ipsen.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80