Brodalumab is an IL-17 receptor monoclonal antibody being developed for patients with moderate-to-severe plaque psoriasis and psoriatic arthritis.
"We are delighted we were able to reach a licensing agreement with AstraZeneca to commercialize brodalumab, which is potentially the most efficacious therapy yet for moderate-to-severe plaque psoriasis,” J. Michael Pearson, chairman and CEO of Valeant, said. “We remain fully committed to dermatology and will continue to advance our pipeline of internally developed and acquired products."
Under the agreement, Valeant will hold the exclusive rights to develop and commercialize brodalumab globally, except in Japan and a few other Asian countries where the rights are held by Kyowa Hakko Kirin Co. Ltd.
Under the terms of the agreement, Valeant will make an up-front payment of $100 million as well as additional pre-launch milestones of up to $170 million and further sales related milestone payments of up to $175 million after the launch.
"Our agreement will help to bring brodalumab to patients with psoriasis who need new treatment options through Valeant's expert focus on dermatology," Pascal Soriot, CEO of AstraZeneca said.
AstraZeneca operates in over 100 countries, and its innovative medicines are used by millions of patients worldwide.
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