(RTTNews) - Teva Pharmaceuticals International GmbH, a subsidiary of Teva Pharmaceutical Industries Ltd (TEVA), and Polpharma Biologics International AG announced on Thursday that they have entered into a global licensing agreement for Polpharma's biosimilar candidate to Ocrevus (ocrelizumab) in Multiple sclerosis upon regulatory approval.
Teva secures exclusive global rights to commercialise both intravenous and subcutaneous formulations of Polpharma's biosimilar candidate to Ocrevus (ocrelizumab), upon regulatory approval.
Ocrelizumab is a humanised monoclonal antibody that targets CD20-positive B cells, which play a key role in the progression of multiple sclerosis. Ocrevus (ocrelizumab) is indicated for the treatment of relapsing forms of multiple sclerosis and primary progressive multiple sclerosis.
In the U.S., the intravenous formulation is marketed as Ocrevus, while the subcutaneous formulation is marketed separately as Ocrevus Zunovo (ocrelizumab and hyaluronidase-ocsq).
As per the terms of the agreement, Polpharma Biologics retains responsibility for the development and manufacturing of the biosimilar candidate.
Teva will be responsible for regulatory submissions and, upon approval, commercialisation of the intravenous and subcutaneous formulations in the United States, Europe, Brazil, Canada, Australia, New Zealand, Israel and Turkey.
TEVA has traded between $14.99 and $37.35 over the last year. The stock closed Wednesday's trade at $33.24.
As of writing, TEVA shares were down 0.63% at $33.03.
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