Teva inks accord on IP in the field of anti-CGRP-based therapy
Israel-based Teva Pharmaceutical Industries (NYSE:TEVA) says its German subsidiary has signed a global license agreement with Alder BioPharmaceuticals (Nasdaq: ALDR), with the news sending Alder’s share up 17.37% to $15.20 by close of trading on Monday.
The agreement validates Teva's intellectual property (IP) and resolves Alder's opposition to Teva's European Patent No 1957106 B1, with respect to anti-calcitonin gene-related peptide (CGRP) antibodies and methods for their use. It also provides Alder with clarity for its ongoing plans in the field.
Under the terms of the agreement, Alder has received a non-exclusive license to Teva's anti-CGRP antibodies patent portfolio to develop, manufacture and commercialize migraine drug candidate eptinezumab – a rival to Teva’s anti-CGRP investigational drug fremanezumab - in the USA and worldwide, excluding Japan and Korea. In exchange, Alder has agreed to:
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