PETAH TIKVA (dpa-AFX) - Regeneron Pharmaceuticals, Inc. (REGN) and Teva Pharmaceutical Industries Ltd. (TEVA) announced a global agreement to develop and commercialize fasinumab, Regeneron's investigational Nerve Growth Factor antibody in Phase 3 clinical development for osteoarthritis pain and in Phase 2 development for chronic low back pain. Teva will pay Regeneron $250 million upfront and share equally in the global commercial value, as well as ongoing research and development costs of approximately $1 billion.
Regeneron will lead global development and U.S. commercialization. The companies will share U.S. commercialization efforts and split profit equally. In countries outside the U.S., Teva will be responsible for development and commercialization and pay Regeneron a purchase price. Under a previously announced collaboration agreement with Regeneron, Mitsubishi Tanabe Pharma has exclusive development and commercial rights to fasinumab in Japan, Korea and nine other Asian countries.
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