By Dean Seal

Teva Pharmaceuticals has closed a collaboration deal to co-develop and co-commercialize an inflammatory bowel disease treatment with Sanofi.

The deal, first disclosed on Oct. 4, calls for Teva to receive a $500 million upfront payment after closing and up to $1 billion in development and launch milestones for TEV '574, a treatment of ulcerative colitis and Crohn's disease that's in Phase 2b clinical trials.

The companies will equally share the global development costs and net profits and losses in major markets. Other markets are subject to a royalty arrangement and Sanofi will lead the development of the Phase 3 program.

Teva is charged with leading commercialization of the product in Europe, Israel and specified other countries, while Sanofi will lead commercialization in North America, Japan, other parts of Asia and the rest of the world.

Initial program results are expected to be available in 2024.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

November 30, 2023 09:08 ET (14:08 GMT)

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