NORTH CHICAGO, IL, USA I November 30, 2018 I AbbVie (NYSE: ABBV) announced today patent license agreements with Pfizer over its proposed biosimilar adalimumab product. Under the terms of the agreements, AbbVie will grant Pfizer a non-exclusive license on specified dates to AbbVie’s intellectual property relating to HUMIRA in the United States and in various other countries around the world in which AbbVie has intellectual property:
- Pfizer’s U.S. license will begin on November 20, 2023, and will not be accelerated by the entry of companies who have already taken a license.
- In the European Union, Pfizer can launch upon approval from the European Medicines Agency.
Pfizer will pay royalties to AbbVie for licensing its HUMIRA patents and acknowledges the validity of the licensed patents. AbbVie will make no payments to Pfizer. The precise terms are confidential between the parties.
About AbbVie
AbbVie is a global, research and development-based biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most complex and critical conditions. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance health solutions for people around the world. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, LinkedIn or Instagram.
SOURCE: AbbVie
Post Views: 22
NORTH CHICAGO, IL, USA I November 30, 2018 I AbbVie (NYSE: ABBV) announced today patent license agreements with Pfizer over its proposed biosimilar adalimumab product. Under the terms of the agreements, AbbVie will grant Pfizer a non-exclusive license on specified dates to AbbVie’s intellectual property relating to HUMIRA in the United States and in various other countries around the world in which AbbVie has intellectual property:
- Pfizer’s U.S. license will begin on November 20, 2023, and will not be accelerated by the entry of companies who have already taken a license.
- In the European Union, Pfizer can launch upon approval from the European Medicines Agency.
Pfizer will pay royalties to AbbVie for licensing its HUMIRA patents and acknowledges the validity of the licensed patents. AbbVie will make no payments to Pfizer. The precise terms are confidential between the parties.
About AbbVie
AbbVie is a global, research and development-based biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most complex and critical conditions. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance health solutions for people around the world. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, LinkedIn or Instagram.
SOURCE: AbbVie
Post Views: 22
