Teva Buys Rights To Chronic Pain Drug For $250M

 September 21, 2016 | Israeli pharmaceutical giant Teva Pharmaceutical and Regeneron Pharmaceuticals, Inc. announced an agreement to develop and commercialize pain drug fasinumab. This is Regeneron’s investigational NGF antibody in Phase III clinical development for osteoarthritis pain and in Phase II development for chronic lower back pain. Under the terms of the agreement, Teva will pay Regeneron $250 million upfront and share equally in the global commercial value (excluding Japan, Korea and other Asian countries covered by a previous collaboration), as well as ongoing R&D costs of about $1 billion.