French drugmaker MedinCell announced on April 126 that it has partnered with AbbVie (NYSE:ABBV) to co-develop and commercialize long-acting injectables in a deal valued at up to $1.9 billion.
Under the terms, the company will use its commercial-stage long-acting injectables technology platform to develop up to six drugs across multiple clinical indications. While MedinCell will be responsible for early-stage research, AbbVie will handle their clinical and late-stage development, including regulatory approval, manufacturing, and commercialization. In exchange, AbbVie will pay MedinCell $35 million upfront and up to $1.9 billion during development and commercialization, as well as royalties on net sales.
