Alder on go to develop and commercialize migraine med eptinezumab after settling patent dispute with Teva; shares ahead 10% premarket [Seeking Alpha]
ALDER BIOPHARMACEUTICALS INC (ALDR)
Last alder biopharmaceuticals inc earnings: 8/6 04:07 pm
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US:NASDAQ Investor Relations:
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Source: Seeking Alpha
Alder on go to develop and commercialize migraine med eptinezumab after settling patent dispute with Teva; shares ahead 10% premarketAlder BioPharmaceuticals (NASDAQ:ALDR) is up10% premarket on robust volume in response to itsannouncement that has settled its patent dispute in Europe with Teva Pharmaceutical Industries (NYSE:TEVA) related to the latter's European patent covering calcitonin gene-related peptide (CGRP) antagonist antibodies. The action frees up Alder to develop, manufacture and commercialize lead candidate eptinezumab for migraine prevention under a non-exclusive global license (except Japan and Korea) to Teva's CGRP portfolio.Under the terms of the agreement, Alder will withdraw its appeal before the European Patent Office and make an immediate $25M payment to Teva followed by a second $25M payment upon U.S. approval of eptinezumab or approval elsewhere in the licensed territory. Following commercial launch, Alder will pay Teva a $75M milestone if eptinezumab sales rea
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