Under terms of the agreement, Schering-Plough will reimburse OraSure for certain development costs and will provide payments to OraSure based on the achievement of certain regulatory and commercial milestones in international markets. Schering-Plough will also provide promotional support for the product in international markets. All sales of the HCV test will be made by OraSure, and OraSure will retain the rights to market and sell the test in all markets throughout the world. During the collaboration period, the test may, at Schering-Plough’s option, be labeled and promoted under both Schering-Plough and OraSure trademarks.
Douglas Michels, president and CEO of OraSure Technologies, said: “We believe the global market opportunity for a rapid HCV test is significant and this expansion of our collaboration with Schering-Plough should help drive the adoption of this important product around the world.”