Teva, Regeneron Form $1.25 Billion Pain Therapy PactBy
Teva Pharmaceutical Industries has formed a collaboration with Regeneron Pharmaceuticals, based in Tarrytown, New York, to develop and commercialize fasinumab, Regeneron’s investigational nerve growth factor (NGF) antibody in Phase III clinical development for osteoarthritis pain and in Phase II development for chronic low-back pain. Under the agreement, Teva will pay Regeneron $250 million upfront and share equally in the global commercial value as well as ongoing research and development costs of approximately $1 billion.
Regeneron is eligible to receive development and regulatory milestones payments and additional payments based on net sales. The company will lead global development and US commercialization. Both companies will share US commercialization efforts and split profit equally in the US. In countries outside the US, except for those covered by a previously announced collaboration agreement between Regeneron and Mitsubishi, Teva will be responsible for development and commercialization and pay Regeneron a purchase price, which allows both companies to retain approximately equal shares of fasinumab’s global commercial value over time.
Fasinumab is a fully human monoclonal antibody that targets NGF, a protein that plays a central role in the regulation of pain signaling. There is evidence that NGF levels are elevated in patients with chronic pain conditions.
Under a previously announced collaboration agreement with Regeneron, Mitsubishi Tanabe Pharma has exclusive development and commercial rights to fasinumab in Japan, Korea and nine other Asian countries.
Source: Teva Pharmaceutical