Richter signs license deal with Mochida

BUDAPEST, Dec 14 (Reuters) - Hungarian drugmaker Richter GDRB.BU has signed a long-term license and collaboration agreement with Japanese group Mochida Pharmaceutical 4534.T.

The two companies will work on the development and marketing of Richter’s biosimilar product portfolio, Richter said on Tuesday.

“According to the agreement Mochida will contribute to the development costs of Richter’s biosimilar products and, in turn, receives exclusive rights for the marketing and distribution of the product portfolio in Japan under Mochida trademarks,” Richter said.

Following the launch of the products in Japan, further sales related royalties will become payable to Richter, it said.

“This agreement is considered to be a significant move in line with Richter’s aim to find strategic partners for the development, marketing and distribution of its biosimilar product portfolio which is expected to be launched worldwide after 2015,” Richter said.

It did not provide financial detail on the agreement. (Reporting by Krisztina Than; Editing by Dan Lalor)