09.20.16
Regeneron Pharmaceuticals, Inc. and Teva Pharmaceutical Industries Ltd. have entered a global agreement to develop and commercialize fasinumab, Regeneron's investigational NGF antibody in Phase III development for osteoarthritis pain and in Phase II for chronic low back pain. Teva will pay Regeneron $250 million upfront and share in the global commercial value, as well as ongoing R&D costs of approximately $1 billion.
"This is a significant transaction for Teva, and we look forward to our collaboration with Regeneron, a leader in the research and development of innovative biologics, which aligns with our overall corporate strategy. With our commercial footprint, we will be able to widely educate healthcare providers about this new treatment option when it becomes available," said Rob Koremans, M.D., president and chief executive officer of Global Specialty Medicines for Teva.
"The development of novel pain medicines, such as fasinumab, can be one important step in combating the growing opioid epidemic," said George D. Yancopoulos, M.D., Ph.D., Chief Scientific Officer, Regeneron and president, Regeneron Laboratories. "Fasinumab represents the culmination of more than 25 years of Regeneron scientific work in neurotrophic factors. We look forward to working with Teva, a leading global pharmaceutical company with an expertise in pain therapeutics, to advance this program for patients in need."
Regeneron is eligible to receive development and regulatory milestone payments and additional payments based on sales. Regeneron will lead global development and U.S. commercialization. The companies will share U.S. commercialization efforts. In countries outside the U.S., with the exception of those covered by a previous collaboration 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.
"This is a significant transaction for Teva, and we look forward to our collaboration with Regeneron, a leader in the research and development of innovative biologics, which aligns with our overall corporate strategy. With our commercial footprint, we will be able to widely educate healthcare providers about this new treatment option when it becomes available," said Rob Koremans, M.D., president and chief executive officer of Global Specialty Medicines for Teva.
"The development of novel pain medicines, such as fasinumab, can be one important step in combating the growing opioid epidemic," said George D. Yancopoulos, M.D., Ph.D., Chief Scientific Officer, Regeneron and president, Regeneron Laboratories. "Fasinumab represents the culmination of more than 25 years of Regeneron scientific work in neurotrophic factors. We look forward to working with Teva, a leading global pharmaceutical company with an expertise in pain therapeutics, to advance this program for patients in need."
Regeneron is eligible to receive development and regulatory milestone payments and additional payments based on sales. Regeneron will lead global development and U.S. commercialization. The companies will share U.S. commercialization efforts. In countries outside the U.S., with the exception of those covered by a previous collaboration 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.