Centocor/Wellcome
Executive Summary
Sign letter of intent to form alliance for the development and marketing of certain of Centocor's monoclonal antibody-based agents for the treatment of cancer, including Penorox (17-lA), which has completed a Phase III trial in Germany for colorectal cancer. Under the deal, announced Sept. 17, Wellcome plc will contribute to the clinical development of Panorex and the other compounds and market and sell any approved drugs in most parts of the world. Wellcome will acquire an equity stake in Centocor of 2 mil. newly issued shares, which will represent just under 5% of the total share capital of Centocor, and make other future payments.