Mylan partners with Israeli firm on MS candidate

10 April 2018

Netherlands-incorporated Mylan (Nasdaq: MYL) and Mapi Pharma, a fully integrated, clinical late stage biopharmaceutical company, today announced that the two companies will partner on the development and commercialization of GA Depot, a long-acting glatiramer acetate product.

Mylan, whose shares gained 3.49% to $41.24 by mid-morning trading in the USA, is acquiring global marketing rights to the product.

Israel-based Mapi Pharma is expected to approve a $20 million private placement with Mylan as the American drugmaker seeks to defend its generic version of the Teva Pharmaceutical Industries’ (NYSE: TEVA blockbuster multiple sclerosis drug Copaxone (glatiramer acetate), according to a report by Haaretz.

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