Teva Pharmaceuticals and Sanofi have announced a collaboration deal to co-develop and co-commercialize a promising treatment for inflammatory bowel disease. The agreement, which was initially disclosed on October 4th, encompasses the development of TEV '574, a potential treatment for ulcerative colitis and Crohn's disease currently undergoing Phase 2b clinical trials.
Steady Financial Support and Mutual Responsibilities
As part of the collaboration, Teva will receive a substantial upfront payment of $500 million upon the closing of the deal. In addition, there is the potential for up to $1 billion in development and launch milestones. Both companies will evenly divide the global development costs and share net profits and losses in major markets. For other markets, a royalty arrangement will be established.
Divided Roles and Leadership
Sanofi will take the lead in developing the Phase 3 program for TEV '574. Teva, on the other hand, will be responsible for the commercialization of the treatment in Europe, Israel, and other specified countries. Meanwhile, Sanofi will lead the commercialization efforts in North America, Japan, other parts of Asia, and the rest of the world.
With the collaboration now underway, initial program results are anticipated to be available by 2024.
Stay tuned for further updates on this promising partnership.
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