Large Molecule

Teva Pays $120M to Distribute Rival Cancer Drug

Feb 19, 2015

Nasdaq

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