Mylan Gets Until April 2020 To Decide On Biosimilar Botox Collaboration With Revance
Revance has amended its agreement with Mylan to collaborate on a rival version of Botox to give Mylan more time to decide on whether it wants to continue developing the biosimilar. In turn, Mylan has agreed to pay $5m to Revance for the extended deadline.
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Mylan first announced plans to develop a biosimilar of the Botox cosmetic and therapeutic brands back in 2018 through an alliance with Revance Therapeutics. More than two years later, a verdict has been reached by the company.
Revance says it is still in discussions with Mylan on whether or not the pair will proceed with their collaboration on a biosimilar version of Botox, despite an extended deadline for a commitment on the deal having passed on 30 April.
Revance Therapeutics is evaluating its options for developing a biosimilar version of Allergan’s globally renowned Botox cosmetic brand, as it waits for Mylan to decide whether to press on with the opportunity or opt out, per terms agreed last August.