Goodwin advised Teva Pharmaceuticals International GmbH., a subsidiary of Teva Pharmaceutical Industries Ltd., on its global license agreement with Alder BioPharmaceuticals. The agreement validates Teva’s IP and resolves Alder’s opposition to Teva’s European Patent No. 1957106 B1, with respect to anti-calcitonin gene-related peptide (CGRP) antibodies and methods for their use.
Under the terms of the agreement, Alder has agreed to withdraw its appeal before the European Patent Office; make an immediate one-time payment of $25 million to Teva; make a second one-time payment of $25 million upon the approval of a biologics license application (BLA) for Alder’s eptinezumab; and, following the commercial launch of eptinezumab, pay $75 million at each of two sales-related milestones (at $1 billion and $2 billion in sales achieved in a calendar year); and provide certain royalty payments on net sales at rates from 5% to 7%.
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a leading global pharmaceutical company that delivers high-quality, patient-centric healthcare solutions used by approximately 200 million patients in 100 markets every day. Headquartered in Israel, Teva is the world’s largest generic medicines producer, leveraging its portfolio of more than 1,800 molecules to produce a wide range of generic products in nearly every therapeutic area. In specialty medicines, Teva has the world-leading innovative treatment for multiple sclerosis as well as late-stage development programs for other disorders of the central nervous system, including movement disorders, migraine, pain and neurodegenerative conditions, as well as a broad portfolio of respiratory products. Teva is leveraging its generics and specialty capabilities in order to seek new ways of addressing unmet patient needs by combining drug development with devices, services and technologies. Teva’s net revenues in 2016 were $21.9 billion.
The Goodwin team was led by partner Robert Crawford (Picture) with invaluable assistance from partners Elaine Blais and Christopher Holding.
Law Firms: Goodwin Procter;
Clients: Teva Pharmaceutical Industries Limited;