Sanofi, UCB set up drug development partnership

PARIS, March 11 Tue Mar 11, 2014 2:12am EDT

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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)

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