Teva and Sanofi partner on anti-TL1A therapy TEV-574 for IBD; $500M upfront

TEVA PHARMACEUTICAL INDUSTRIES LTD

Teva receives €469M ($500M) upfront and up to €940M ($1B) in development/launch milestones.
Companies share development costs equally and split net profits/losses in major markets.
Sanofi leads Phase 3 program; Teva commercializes in Europe/Israel, Sanofi in North America/Asia.
TEV-574 is in Phase 2b for ulcerative colitis and Crohn's disease; initial data expected in 2024.

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