Fujisawa Awards Milestone Payment to Canada's Cardiome

Japanese pharmaceuticals producer Fujisawa has awarded Canada's Cardiome a US$6mn milestone payment, following completion of the first Phase III trial on promising anti-arrhythmia compound RSD1235. Cardiome awarded Fujisawa the North American rights to the prospective drug in October 2003, and stands to receive a further total of US$48mn on completion of a series of clinical and commercial targets.

The deal has prompted speculation that Fujisawa, shortly to merge with fellow Japanese firm Yamanouchi, could move to acquire Cardiome, for an estimated price of US$500mn. A purchase would yield Fujisawa the worldwide rights to RSD1235.