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Biogen Inc (NASDAQ:BIIB) And Alkermes Plc (NASDAQ:ALKS) Report License And Collaboration Deal

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Biogen Inc (NASDAQ:BIIB) and Alkermes Plc (NASDAQ:ALKS) have finalized an international license and collaboration deal to commercialize and develop ALKS 8700, a novel, oral, MMF small drug molecule in Phase III development for the cure of relapsing types of multiple sclerosis.

The details

Michel Vounatsos, the CEO at Biogen, expressed that this association is further evidence of company’s commitment to multiple sclerosis and establishes upon their extensive experience in neuroscience and mainly in multiple sclerosis. They intend to offer patients with a new oral treatment which may show differentiated benefits.

Richard Pops, the CEO at Alkermes, reported that this association has the potential to offer vital benefits to people with multiple sclerosis and immediately enhances the value of ALKS 8700 to the company. Biogen has an extensive product portfolio and an extremely experienced commercial team. In its hands, they consider that patients will have more rapid and broader access to this vital drug. Meanwhile, they will focus their expanding commercial capabilities on their growing portfolio of drugs in psychiatry, including schizophrenia, depression and addiction.

As per the agreement terms, Biogen will get an exclusive, global license to commercialize ALKS 8700. It will compensate Alkermes a mid-teens royalty on global net sales of ALKS 8700. This association aligns the interests of Biogen and Alkermes in the successful commercialization and development of ALKS 8700 as a vital potential treatment alternative for patients suffering from multiple sclerosis.

Biogen will compensate Alkermes for 50% of the ALKS 8700 development costs in 2017, with Alkermes getting an upfront payment of $28 million exhibiting Biogen’s share of development costs already noted in 2017. Starting January 1, 2018, the company will be accountable for all development expenses linked to ALKS 8700. Alkermes may get milestone payments for ALKS 8700 with a top limit aggregate value of $200 million based upon certain regulatory and clinical achievements. Biogen expects the preliminary milestone payment of $50 million will be noted as an expense in 2017.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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