Alvogen will market Pfenex’ teriparatide
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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Pfenex says it can now launch its teriparatide in the US upon FDA approval, after Lilly failed to file a lawsuit in reaction to a Paragraph IV challenge to a Forteo device patent within the statutory timeframe.
Alvogen and Pfenex have agreed to expand their existing US collaboration on Pfenex’ PF708 teriparatide candidate to also encompass the EU, certain MENA countries and other international markets.
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