AbbVie (NYSE: ABBV), a leading pharmaceutical company based in the U.S., has announced a licensing agreement with Gedeon Richter Plc, aimed at strengthening the development of new potential targets for neuropsychiatric conditions. This collaboration builds upon the nearly two decades of successful partnership on central nervous system (CNS) projects, which have yielded globally launched products such as cariprazine and the discovery of the investigational drug candidate ABBV-932 for the treatment of bipolar depression and generalized anxiety disorder.
According to the terms of the agreement, AbbVie and Richter will jointly conduct preclinical and clinical research and development activities, with costs shared by both parties. Richter will receive an upfront cash payment of USD 25 million, along with potential future payments for development, regulatory, and commercialization milestones, as well as sales-based royalties. AbbVie will hold worldwide commercialization rights for the products, excluding Richter’s traditional markets, which include geographic Europe, Russia, other Commonwealth of Independent States (CIS) countries, and Vietnam.- Flcube.com
