Teva’s new royalty agreement; option to merge with Descartes; Vir’s hepatitis data – Endpoints News

Teva strikes deal with Royalty Pharma for schizophrenia drug: The Israeli drugmaker said Monday it will receive $100 million to complete an ongoing Phase III trial of its long-acting injectable olanzapine. The study is expected to be published in the second half of 2024. Partners have the option to increase that amount to $125 million, and Teva has agreed to repay royalties within five years of FDA approval, plus “low to mid-digit single-digit royalties.” The FDA applied for approval and it will refund 125% of the royalties. Olanzapine, better known as Zyprexa, has been marketed by Eli Lilly and Company to treat mental disorders since the 1990s. “This is a validation and opportunity for us to continue to drive growth while also being thoughtful about how we manage our operating expenses going forward,” Teva CEO Richard Francis said. Endpoint News.