AbbVie to Pay $595 Million for Boehringer Immunology Treatments
- Companies will co-develop drug for psoriasis, Crohn's, asthma
- Psoriasis treatment targets crowded market including Humira
This article is for subscribers only.
AbbVie Inc. will pay Boehringer Ingelheim GmbH at least $595 million to join in developing two drugs aimed at treating psoriasis, Crohn’s disease, asthma and other diseases where the immune system goes awry.
Beyond the upfront payment, closely held Boehringer is eligible to receive additional, undisclosed payments tied to developmental and regulatory milestones, as well as royalty payments on sales, the companies said in a joint statement released Monday.