February 28, 2018 / 9:28 PM / 4 months ago

Mylan teams up with Revance on biosimilar for Botox

NEW YORK (Reuters) - Mylan NV on Wednesday struck a licensing agreement with Revance Therapeutics Inc to develop a biosimilar of Allergan Plc’s blockbuster Botox wrinkle treatment.

The deal includes an upfront payment of $25 million to Revance​, Mylan said.

Revance’s own rival to Botox is not yet approved by the U.S. Food and Drug Administration. Revance reported positive Phase III data for its longer-lasting wrinkle treatment in December and said then that it planned to launch the drug in 2020, pending FDA approval.

(Corrects third paragraph to show that Phase III trial is for a different rival drug.)

Reporting by Michael Erman; Editing by Susan Thomas

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