Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) recently entered into an exclusive agreement with Celltrion, Inc. to commercialize P10 and CT-P6, the latter’s two monoclonal antibody (mAb) biosimilar candidates. The deal covers North America.
Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) will pay $160 million to Celltrion in an upfront payment. A maximum $60 million of the upfront payment is refundable under certain circumstances. Both companies will share the resulting revenues in North America. John Carroll, a biotech analyst, tweeted the following yesterday on the deal:
Teva hands Celltrion $160M to grab US rights on two biosimilars of Roche blockbustershttps://t.co/ejqXCqCsFa
— John Carroll (@JohnCendpts) October 6, 2016