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Regeneron: buys rights to Libtayo from Sanofi

( - On Thursday Sanofi announced that it has granted its US partner Regeneron exclusive worldwide licensing rights to the anti-cancer drug Libtayo.

Under the terms of the agreement, Regeneron will receive an upfront payment of 900 million dollars, plus royalties of 11% on worldwide net sales of the drug.

Sanofi will also be eligible for a regulatory milestone payment of 100 million dollars, as well as sales-related payments of up to 100 million dollars over the next two years.

The collaboration and licensing agreement between both groups in 2015 had previously provided for equal sharing of profits generated by Libtayo sales.

While Sanofi and Regeneron jointly marketed the product in the US, Sanofi was solely responsible for marketing it elsewhere in the world.

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