Teva Closes Collaboration Deal With Sanofi on IBD Treatment
November 30 2023 - 9:23AM
Dow Jones News
By Dean Seal
Teva Pharmaceuticals has closed a collaboration deal to
co-develop and co-commercialize an inflammatory bowel disease
treatment with Sanofi.
The deal, first disclosed on Oct. 4, calls for Teva to receive a
$500 million upfront payment after closing and up to $1 billion in
development and launch milestones for TEV '574, a treatment of
ulcerative colitis and Crohn's disease that's in Phase 2b clinical
trials.
The companies will equally share the global development costs
and net profits and losses in major markets. Other markets are
subject to a royalty arrangement and Sanofi will lead the
development of the Phase 3 program.
Teva is charged with leading commercialization of the product in
Europe, Israel and specified other countries, while Sanofi will
lead commercialization in North America, Japan, other parts of Asia
and the rest of the world.
Initial program results are expected to be available in
2024.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
November 30, 2023 09:08 ET (14:08 GMT)
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