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Alvogen will market Pfenex’ teriparatide

Executive Summary

Alvogen has licensed exclusive US commercial rights to Pfenex’ PF708 lead drug candidate, a therapeutic equivalent to Eli Lilly’s Forteo (teriparatide) osteoporosis blockbuster. Under the terms of the deal, San Diego-based Pfenex will receive US$2.5 million upfront, and may be eligible for an additional US$25 million in support and regulatory milestone payments. Gross profits on sales will be split equally if PF708 is given an ‘AP’ therapeutic equivalence rating by the US Food and Drug Administration (FDA), while Pfenex will get up to 40% of profits if the drug is rated differently.

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