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ARTICLE | Company News

Eagle lands deal with Teva for EP-3102

February 18, 2015 1:37 AM UTC

Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) gained $5.12 (24%) to $26.10 after it granted Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) exclusive rights to commercialize EP-3102 in the U.S. Eagle submitted an NDA to FDA last week for EP-3102 to treat chronic lymphocytic leukemia (CLL) and indolent B cell non-Hodgkin's lymphoma (NHL) that has progressed during or within six months of treatment with a rituximab-containing regimen. Eagle has requested Priority Review of the ready-to-dilute (RTD) formulation of bendamustine, an alkylating agent, to be administered by infusion over 10 minutes after dilution in 50 mL saline or a mixture of sodium chloride and dextrose.

Eagle is responsible for obtaining regulatory approvals and conducting post-approval clinical trials, and may initially supply EP-3102 to Teva. Eagle will receive $30 million in cash up front and is eligible for up to $90 million in milestones, plus double-digit royalties. ...