Otsuka Pharmaceutical has entered into a licensing agreement that gives it exclusive rights to develop and commercialize Teva Pharmaceutical Industries' migraine prevention drug fremanezumab in Japan.
"Through this agreement, we aim to leverage our core strengths in the areas of neurology and psychiatry," Otsuka President Tatsuo Higuchi said. "I'm confident that this new therapy, advanced to this development stage by Teva, holds significant potential as a future new option in an area with high patient needs in Japan."
Teva will receive a lump-sum payment of $50 million, as well as royalties on sale revenues. There will also be milestone payments.
"We have seen very promising preliminary results for fremanezumab in our Phase IIb studies for both chronic and episodic migraines," Teva Growth Markets President and CEO Gianfranco Nazzi said. "We believe the promise shown in these investigational trials represents significant hope for patients suffering from debilitating migraines, and we look forward to bringing this therapy to patients in Japan in collaboration with Otsuka Pharmaceutical Co. Ltd."
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