By Giulia Petroni

 

Novartis AG said Wednesday that its generics division Sandoz has entered into a commercialization agreement with biopharmaceutical company Bio-Thera Solutions, Ltd. for oncology medicine biosimilar bevacizumab.

The Swiss pharmaceutical company said it will have the right to commercialize the medicine upon approval in the U.S., Europe excluding Russia, and Canada among other countries, while Bio-Thera Solutions will be in charge of development and manufacturing.

Bevacizumab is used for the treatment of multiple types of cancer.

Under the agreement, Bio-Thera Solutions will receive upfront and milestone payments and will also be entitled to receive profit share payments in the partnered territory, Novartis said.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

September 08, 2021 08:06 ET (12:06 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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