Teva Pharmaceuticals, U.S. subsidiary of Teva Pharmaceutical Industries Ltd., has successfully closed its collaboration agreement with Sanofi to co-develop and co-commercialize TEV '574, an asset currently in phase 2b clinical trials for ulcerative colitis and Crohn's disease.
According to the agreement, Teva receives an upfront payment of $500 million and up to $1,000 million in development and launch milestones.
The collaboration involves equitably sharing global development costs and net profits/losses in major markets, with Sanofi leading the phase 3 program development.
Teva will handle commercialization in Europe, Israel, and specific countries, while Sanofi will manage North America, Japan, other parts of Asia, and the rest of the world.
Initial program results are expected to be available in 2024.
Inflammatory bowel diseases (IBD), which include Crohn's disease and ulcerative colitis, affect approximately 10 million people worldwide. Both companies seek to address these conditions, characterized by chronic inflammation in the gastrointestinal tract, through their collaborative efforts.
Teva Pharmaceutical Industries Ltd., a global leader in generic and innovative medicines with an extensive portfolio, has been improving lives for over a century.
The press release includes a cautionary note regarding forward-looking statements, highlighting potential risks and uncertainties related to the collaboration, development of TEV '574, regulatory approvals, competition, and other factors.
Teva Pharmaceutical Industries Ltd. urges caution when relying on forward-looking statements and commits to updating information as necessary.
With information from: Businesswire.
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