GTx, GTXI announced today that it has sold to ProStrakan
Group plc (ProStrakan) its rights and related assets in the metastatic
breast cancer product, Fareston®, for total cash
consideration of $21.7 million. After deducting cash expenses relating
to the transaction, GTx will receive net cash proceeds from the sale of
approximately $19 million. Fareston (toremifene citrate) 60 mg tablets
is a selective estrogen receptor modulator approved in the United States
for the treatment of metastatic breast cancer in postmenopausal women.
ProStrakan, which is a subsidiary of the pharmaceutical company, Kyowa
Hakko Kirin Co. Ltd., executed an Asset Purchase Agreement with GTx to
acquire GTx's exclusive rights in the U.S. to Fareston, along with
See full press release
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