Teva and Regeneron in $250 million collaboration on painkiller fasinumab
Israel’s Teva Pharmaceuticals Industries (NYSE: TEVA) and US biotech Regeneron Pharmaceuticals (Nasdaq: REGN) have announced a global collaboration to develop and commercialize a painkiller which they believe can address limitations of current non-steroidal anti-inflammatory drugs and opioid therapies.
Fasinumab is Regeneron’s investigational nerve growth factor antibody in Phase III clinical development for osteoarthritis pain and in Phase II development for chronic low back pain.
Under the terms of the agreement, 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.
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