Organon (OGN) said Tuesday it acquired from Biogen (BIIB) the regulatory and commercial rights to Tofidence for intravenous infusion in the US.
Tofidence, a biosimilar to Actemra, is indicated for the treatment of arthritis and COVID-19, Organon said.
The company said the deal includes an upfront payment to Biogen, with Organon assuming the obligation to pay tiered royalty payments based on net sales and tiered annual net sales milestone payments that Biogen owes to Bio-Thera Solutions, the product developer.
Organon said Bio-Thera Solutions will keep manufacturing rights for Tofidence in the US.
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