Teva (TASE, Nasdaq: TEVA) means to buy the U.S. marketing rights to its multiple sclerosis drug Copaxone from Sanofi-Aventis, in exchange for 25% of the revenues, the company revealed in its post-results press conference today.
Copaxone was developed by Teva, but it shares the marketing rights with Sanofi-Aventis.
Teva means to take over exclusive marketing rights in the United States and to record 75% of the revenues thereon.
Chief financial officer Dan Suesskind confirmed today for the first time that until now, Teva had been booking 55% of Copaxone's sales, while Sanofi-Aventis had recorded the rest.
Want to enjoy 'Zen' reading - with no ads and just the article? Subscribe todaySubscribe now