Akorn in rabies MAb deal with India's Serum

Illinois, USA-based Akorn and Serum Institute of India have entered into a definitive development and exclusive distribution agreement for a rabies monoclonal antibody. The accord finalizes a previously-executed memorandum of understanding dated April 4, with respect to both companies collaboration in developing and distributing monoclonal antibody drugs. The term of the deal is 10 years following the first commercial sale of products.

Recently, Serum has entered into a definitive agreement with an unnamed third party that gives it the right to appoint a distributor for the marketing and distribution of rabies MAb products, and has agreed to appoint Akorn. In exchange for receiving exclusive marketing and distribution rights to North, Central and South America, Akorn has agreed to help fund product development through milestone payments. The US firm will receive 40% of the revenues from product sales in North America and 50% in Central and South America.

As part of the deal, Serum also grants Akorn the first option to obtain exclusive marketing rights in North, Central and South America for a second MAb product, Anti-D human monoclonal antibody. The terms for this would be consistent with those for the Rabies MAb product. Additionally, Serum has granted Akorn the first option right to expand the territory to include Europe in exchange for annual product sales requirements in Europe.