Celltrion, Teva in deal for two biosimilars

Celltrion Inc. (KOSDAQ:068270) granted Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) exclusive rights to commercialize two of Celltrion's proposed biosimilars in the U.S. and Canada. The deal includes CT-P10, a biosimilar of CD20 inhibitor Rituxan/ MabThera rituximab, and CT-P6, a biosimilar of cancer mAb Herceptin trastuzumab.

Teva will pay Celltrion $160 million up front, of which $60 million is refundable or creditable depending on undisclosed milestones. Celltrion will be responsible for completing all clinical development and regulatory activities, and the companies will share any profits. ...