US pharmaceutical group AbbVie has won a licence to develop and commercialise an experimental drug jointly created with EU biotech group Argenx in a deal that could generate payments of up to $625m. Biotech group Argenx said on Wednesday U.S. pharma group AbbVie had exercised an exclusive option to develop and commercialize one of its experimental drugs which could lead to payments of up to $625 million. The drug, called Epidiolex (epinephrine autoinjector), is the first new treatment for epilepsy since it was approved by regulators last year. ARGX-115 has been jointly developed by both firms but has to go through several more clinical trials before being commercially launched. Argenx’s share price rose 6% on the licensing news.
US pharmaceutical group AbbVie has won a licence to develop and commercialise an experimental drug jointly created with EU biotech group Argenx in a deal that could generate payments of up to $625m. The drug, called Epidiolex (epinephrine autoinjector), is the first new treatment for epilepsy since it was approved by regulators last year. ARGX-115 has been jointly developed by both firms but has to go through several more clinical trials before being commercially launched. Argenx’s share price rose 6% on the licensing news.