March 12, 2018 / 7:26 AM / 6 months ago

BRIEF-Biohaven restructures license agreement with Bristol-Myers Squibb to reduce royalties payable on its migraine product candidates

March 12 (Reuters) - Biohaven Pharmaceutical Holding Company Ltd:

* BIOHAVEN RESTRUCTURES LICENSE AGREEMENT WITH BRISTOL-MYERS SQUIBB TO REDUCE ROYALTIES PAYABLE ON ITS MIGRAINE PRODUCT CANDIDATES; TRANSACTION FINANCED THROUGH PRIVATE PLACEMENT WITH LEADING INSTITUTIONAL INVESTORS

* BIOHAVEN PHARMACEUTICAL-CO TO PAY BMS UPFRONT PAYMENT OF $50 MILLION IN RETURN FOR LOW SINGLE DIGIT REDUCTION IN ROYALTIES ON NET SALES OF RIMEGEPANT​

* BIOHAVEN PHARMACEUTICAL HOLDING COMPANY - ‍UPFRONT PAYMENT FOR RESTRUCTURING FINANCED THROUGH PRIVATE PLACEMENT OF CO COMMON SHARES TO INVESTORS​

* BIOHAVEN PHARMACEUTICAL HOLDING COMPANY - ‍BIOHAVEN’S OBLIGATIONS TO MAKE DEVELOPMENT AND COMMERCIAL MILESTONE PAYMENTS TO BMS REMAIN UNCHANGED​

* BIOHAVEN PHARMACEUTICAL HOLDING - ‍RESTRUCTURING OF AGREEMENT WITH BRISTOL-MYERS FOR SMALL MOLECULE CALCITONIN GENE-RELATED PEPTIDE RECEPTOR ANTAGONIST PLATFORM​

* BIOHAVEN PHARMACEUTICAL HOLDING CO - CO WILL PAY BMS $50 MILLION IN RETURN FOR A MID-SINGLE DIGIT REDUCTION IN ROYALTIES PAYABLE ON NET SALES OF BHV-3500​

* BIOHAVEN PHARMACEUTICAL-‍RESTRUCTURING WAS FINANCED THROUGH A $55 MILLION PRIVATE PLACEMENT OF 2 MILLION BIOHAVEN COMMON SHARES AT A PRICE OF $27.50 PER SHARE​ Source text for Eikon: Further company coverage:

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