Sanofi, UCB set up drug development partnership
PARIS, March 11
PARIS, March 11 (Reuters) - French and Belgian drugmakers Sanofi and UCB have entered a partnership aimed at finding treatments for so-called immune-mediated diseases in areas such as rheumatoid arthritis and inflammatory bowel conditions.
The two companies would share costs and profits on a 50:50 basis, Sanofi said in a statement on Tuesday.
UCB will be entitled to initial upfront, preclinical and clinical development milestone payments from Sanofi that could exceed 100 million euros ($139 million), Sanofi added. ($1 = 0.7205 Euros) (Reporting by James Regan; Editing by Blaise Robinson)