Research & Development

Under the terms of this agreement, Teva will receive an upfront payment of €469m ($500m) and up to €940m ($1bn) in various milestone payments. The two companies will share development costs and net profits or losses in major markets, with further markets subject to a royalty arrangement. Sanofi will lead the development of the phase 3 programme. Teva will lead commercialisation in Europe, Israel and other countries, while Sanofi will lead in North America, Japan, other parts of Asia and the rest of the world.

This transaction will become finalised once closing conditions are met, and initial programme results are expected in 2024.

Richard Francis, president and chief executive officer of Teva, added: “This is a new era for Teva, and our robust, innovative pipeline is key to our Pivot to Growth strategy. This collaboration further validates the great science that Teva has to offer with our internally developed anti-TL1A. We are honoured to partner with Sanofi to bring their proven capabilities, leadership and success in the immunology and gastroenterology space together with our capabilities to optimise development and global launches.”

Paul Hudson, chief executive officer of Sanofi, commented: “Anti-TL1As are a promising class of therapies, and we believe that TEV’574 could emerge as a best-in-class option for people living with serious gastrointestinal diseases. This collaboration strengthens our commitment to advancing innovative treatment options for inflammatory conditions with a high unmet need and bolsters our goal to be an industry leader in immunology.”