Mid-Cap Stocks Alert: Alexza Pharmaceuticals Inc. (NASDAQ:ALXA) and Teva Pharmaceutical Industries (NASDAQ:TEVA)
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Alexza Pharmaceuticals Inc. (NASDAQ:ALXA) shares were up on Wednesday, following the firm reported that Teva Pharmaceutical Industries Ltd., one of the world’s biggest drug firms, would promote is agitation drug, Adasuve, in the US.
The firms reported on Wednesday that Teva will be accountable for all US commercial and clinical-related activities, consisting of an obligatory post-approval study.
How stock of Alexza Pharmaceuticals Inc gained investors attention on Wednesday? Find out in this report
Teva will also have the right to study the drug as a cure for other neurological disorders. Alexza, of Mountain View, Calif., will develop the drug and supply it to Teva.
The Israeli firm will pay Alexza (ALXA) $40 million upfront and it could make a further $195 million in milestone payments formed on the conclusion of post-approval studies and sales targets.
Alexza will also get royalties on sales of the drug, and Teva will lend Alexza almost $25 million to support Adasuve’s activities over the coming five years.
How stock of Teva Pharmaceutical Industries gained investors attention on Wednesday? Find out in this report
Teva Pharmaceutical Industries (NASDAQ:TEVA) and Alexza Pharmaceuticals hit an exclusive US license and supply deal for Adasuve inhalation powder for the cure of agitation linked with schizophrenia or bipolar I disorder in adults.
Israel-located Teva will be accountable for all US commercial and clinical activities for Adasuve and has gained rights to conduct further clinical trials for possible new indications in neurological disorders.
Alexza will be in charge for manufacturing and supplying Adasuve to Teva for commercial sales and clinical trials.
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