Celltrion and Teva Sign $160 Million Pact to Market Biosimilars in US

Celltrion of South Korea engaged Teva to commercialize two of its biosimilar cancer drugs in the US and Canada. Teva paid $160 million upfront, though $60 million could be returned under certain (undisclosed) conditions. The two products have major potential markets because they are versions of Rituxan® and Herceptin®, two very important Roche/Genentech cancer treatments. Celltrion will be responsible for clinical tests and regulatory submissions, while it will share in the profits with Teva. Rituxan loses its US patent protection in 2018 and Herceptin in 2019. As patent-protected medications, the two drugs currently produce revenues of $6.5 billion in the US and Canada. More details.... Stock Symbols: (KOSDAQ: 068270) (NYSE/TASE: TEVA) (SIX: ROG) Share this with colleagues: // //