On September 20, Teva Pharmaceutical Industries Ltd. and Regeneron Pharmaceuticals, Inc. announced an agreement to develop and commercialize fasinumab, an investigational NGF antibody currently under development by Regeneron as a treatment for osteoarthritis and chronic low back pain.   The press release states Teva and Regeneron will collaborate globally, excluding Japan, Korea, and 9 other Asian countries that are part of a previous fasinumab collaboration between Regeneron and Mitsubishi Tanabe Pharma.

According to the announcement, under the terms of the agreement, Teva will make an initial upfront payment of $250 million to Regeneron, and the companies will share equally in the ongoing R&D costs (estimated at approximately $1 billion) and the value of the commercialized product.