Teva has struck a deal with rival migraine drug maker Alder BioPharmaceuticals, giving Alder a global license for eptinezumab for up to $200 million in milestones plus royalties.
The global non-exclusive license, signed by Teva’s subsidiary Teva Pharmaceuticals International GmbH, includes rights to develop, manufacture, and commercialize the drug in the US and worldwide, excluding Japan and Korea.
The agreement absolves Alder’s opposition to one of Teva’s European patents on CGRP antibodies, the companies said in a statement. The patent involved anti-CGRP antibodies and methods for their use. Under the deal, Alder has agreed to withdraw its appeal at the European Patent Office, and pay an immediate one-time payment of $25 million to Teva.
Later, Alder will pay a second payment of $25 million once a biologics license application is approved by the FDA. Then, following commercial launch of eptinezumab, pay $75 million at each of two sales-related milestones (at $1 billion and $2 billion in sales achieved in a calendar year) and provide certain royalty payments on net sales at rates from 5% to 7%.
“This agreement reinforces the broad coverage provided by Teva’s IP in the field of anti-CGRP antibodies therapy,” said Marcelo Bigal, CSO and head of specialty R&D at Teva, in a statement. “At the same time, it also helps facilitate the ongoing development of additional potential therapies in this exciting field – this can only be good for our increased understanding of the area and ultimately improved patient wellbeing.”
Alder $ALDR shares went up 13% in pre-market trading.
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