PETAH TIKVA (dpa-AFX) - Teva Pharmaceuticals International GmbH, a subsidiary of Teva Pharmaceutical Industries Ltd (TEVA) and Polpharma Biologics International AG announced Thursday a global licensing agreement granting Teva exclusive rights to commercialize both formulations of Polpharma Biologics' proposed biosimilar to Ocrevus (ocrelizumab), upon regulatory approval.
This strategic agreement is expected to combine Polpharma Biologics' proven biosimilar development expertise with Teva's commercial footprint and capabilities.
Under the terms of the agreement, Polpharma Biologics retains full responsibility for the development and manufacturing of the biosimilar candidate.
Meanwhile, Teva will be responsible for regulatory submissions and, upon approval, commercialization of the intravenous and subcutaneous formulations in the United States, Europe, Brazil, Canada, Australia, New Zealand, Israel and Turkey.
The deal will also advance Teva's Pivot to Growth strategy by expanding its biosimilars pipeline through strategic collaborations.
This strategic agreement reinforces Teva's and Polpharma's commitment to broadening access to biologic medicines while promoting the long-term sustainability of healthcare systems.
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