Dr. Reddy's Laboratories (RDY) said Thursday it has a licensing agreement with Shanghai Henlius Biotech for HLX15, an investigational daratumumab biosimilar to treat multiple myeloma.
The agreement grants Dr. Reddy's exclusive commercialization rights for both subcutaneous and intravenous formulations of HLX15 in the US and Europe, the company said.
Henlius will manage development, manufacturing and supply, potentially earning up to $131.6 million, including a $33 million upfront payment, milestone payments, and royalties on net annual sales of the product.
HLX15 is a recombinant anti-CD38 fully human monoclonal antibody injection and is being developed as a biosimilar of Darzalex and Darzalex Faspro, manufactured by Janssen Biotech, a subsidiary of Johnson & Johnson.
Dr. Reddy shares rose 0.1% in recent Thursday trading, and Johnson & Johnson fell 0.5%.
Price: 13.99, Change: +0.01, Percent Change: +0.11
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