In 1999, Spain's signed a development and marketing deal with Windtree Therapeutics Inc. for the US biotech's Phase II synthetic lung surfactant lucinactant (Surfaxin). Esteve agreed to co-fund R&D and oversee clinical trials in Europe, take an equity stake, as well as commercialize the drug in Spain, Portugal, Italy and Latin America [See Deal].
The move was unusual for the average domestically focused, privately owned European pharma firm: few were willing—or able—to take on...