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news.Watson Pharmaceuticals has entered into an exclusive, worldwide licensing agreement with Itero Biopharmaceuticals to develop and commercialise Itero's Recombinant Follicle Stimulating Hormone (rFSH).
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Watson andItero said that rFSH is currently in preclinical development as a biosimilar molecule for the treatment of female infertility.
As per the terms of the agreement, Itero is expected to get an undisclosed licensing payment and other payments based on the achievement of certain development and regulatory performance milestones.
Additionally, Itero is expected to get payment on a percentage of net sales or net profits in various regions of the world.
However, Watson is expected to take up responsibility for all future development, manufacturing, and commercial expenses related to Itero’s rFSH product.
Development of the product will be managed by Watson’s Eden Biodesign biologics unit in collaboration with the brand research and development team, said the companies.
Paul Bisaro, president and CEO of Watson Pharma, said: “Acquiring the rights to Itero’s rFSH product represents our first in-licensing of a biosimilar development project, and demonstrates the execution of our plan to build a pipeline of biosimilar products, through both internal development and external partnering with high quality biopharmaceutical companies such as Itero.”
Fred Wilkinson, executive vice president, global brands at Watson Pharma, said: “The Eden and Brand research and development teams will manage the development activities, and if we are successful, the Brand commercial organisation will add another major product to our portfolio.”