Bioton, Actavis deal

Bioton and Actavis formed a JV to develop and register insulins, including analog insulins. Bioton will be responsible for development and manufacturing, while Actavis will have an exclusive license to commercialize the products in the EU and U.S., as well as Albania, Bosnia, Croatia, Iceland, Japan, Kosovo, Lichtenstein, Macedonia, Montenegro, Norway, Serbia and Switzerland. In Poland, both companies will market the insulin products under their respective brands.

Bioton will receive a €22.3 million ($29.3 million) upfront payment and is eligible for up to €33.3 million ($43.7 million) in milestones relayed to the registration of recombined human insulin. The parties will share on a 50/50 basis the profits from sales, as well as the development and registrations costs. The companies expect Actavis' revenues during the first seven years from launch to be greater than €1.5 billion ($1.9 billion). ...