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Shenzhen Hybio Pharma Sells US Rights for Generic MS Drug to Akorn

publication date: Jan 8, 2015
Shenzhen Hybio Pharmaceutical out-licensed US rights for a generic version of Copaxone, Teva's blockbuster multiple sclerosis treatment, to Akorn Inc., a generic US drugmaker. Copaxone recently lost its patent protection in the US. Akorn will pay an initial milestone of $5 million to Hybio when Hybio develops generic Copaxone to US standards and files for approval,. The duration of the contract between the two companies is ten years. More details....

Stock Symbol: (NYSE: TEVA)

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