Teva Pharmaceutical Industries has agreed to a potential $120M licensing agreement allowing it to promote and distribute Eagle Pharmaceuticals' cancer drug EP-3102 -- a potential competitor to Teva's own treatment -- in the U.S.
EP-3102 is a rapid-infusion product that treats chronic lymphocytic leukemia and a type of non-Hodgkin's lymphoma. It is similar to Teva's chronic lymphocytic leukemia treatment Treanda, but has a substantially shorter infusion time.
Eagle has previously submitted a new drug application for EP-3102 to the U.S. FDA and requested priority review. The drug had received orphan-drug designation.
Read the Nasdaq press release