Teva hands Celltrion $160M to grab US rights on two biosimilars of Roche blockbusters
Teva is expanding its pipeline of biosimilars. The Israeli pharma company agreed to hand over $160 million to partner with Korea’s Celltrion on copycat versions of Herceptin and Rituxan, two of Roche’s biggest franchise drugs.
Teva, which can get $60 million of that back in the event of an unexpected setback, is grabbing US and Canadian rights to these two knockoffs. Combined, those two drugs earn $6.5 billion a year in the two countries. Obviously the lion’s share of the cash lies in the US. And the two companies’ deal includes a profit-sharing provision.
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