By Pierre Bertrand
Sanofi said that it has entered into an exclusive collaboration with Teva Pharmaceuticals for the development of a novel therapy to treat ulcerative colitis and Crohn’s disease.
The drug, TEV’574, will be co-developed and co-commercialized by the two companies. It is currently in Phase 2b clinical trials, according to a joint statement published on Wednesday.
As part of the agreement, the Teva Pharmaceutical Industries subsidiary will receive an upfront payment of 469 million euros ($490.8 million) and up to EUR940 million ($983.8 million) in development and launch milestones.
Teva will lead commercialization of the drug in Europe, Israel and in other countries, while Sanofi will focus on North America, Japan, other parts of Asia as well as in the rest of the world, the companies said.
The transaction will be effective after customary closing conditions are met. Initial program results are expected available next year.
Sanofi will lead the development of the phase 3 program, the companies said.
Write to Pierre Bertrand at [email protected]
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