Genzyme agrees to buy rights to MS treatment

Genzyme Corp. said it has agreed to acquire the worldwide rights to a potential multiple sclerosis treatment from Bayer HealthCare.

The treatment is called Campath, Cambridge-based Genzyme said.

Bayer could potentially receive payments contingent on annual revenue until $1.25 billion in payments is realized, said Genzyme in a press release.

The release added that the agreement includes a 10-year time cap on payments and that Bayer may also receive future milestone payments as a percentage of worldwide sales beginning in 2021 if Genzyme does not exercise a buyout option in 2020 for up to $900 million.

Genzyme also said in its press release that it will acquire a new, Seattle-area Leukine manufacturing facility for $75 million to $100 million and hire the plant's operating personnel following Food and Drug Administration plant approval, which is expected in 2010.

To read the press release, please click here.
(By Chris Reidy, Globe staff)