Otsuka Secures Exclusive Rights In Japan To Fremanezumab - Quick Facts

(RTTNews) - Otsuka Pharmaceutical Co., Ltd and Teva Pharmaceutical Industries, Ltd. (TEVA) announced an agreement covering Japan for Otsuka to develop and commercialize Teva's investigational drug candidate fremanezumab, an anti-calcitonin gene-related peptide monoclonal antibody for the prevention of migraine. Through the agreement, Otsuka secures exclusive rights in Japan to fremanezumab, which Teva is globally developing in other countries.

Otsuka is to pay Teva a lump-sum payment of $50 million. Milestone payments will be made upon filing and regulatory approval in Japan and then upon achievement of specified revenue targets. Future clinical trials in Japan will be carried out and funded by Otsuka. Otsuka also holds exclusive sales rights and will pay royalties on revenues to Teva.