Richter Partners with U.S. Pharmaceutical Firm
Richter Gedeon, a Budapest-based pharmaceutical giant, has announced a new research and development collaboration with American company AbbVie in the field of neuropsychiatric conditions. The two companies will be working together on novel targets for the treatment of neuropsychiatric conditions.
This collaboration builds on nearly two decades of partnership between Richter and AbbVie, with a focus on innovation and developing new therapies for people living with neuropsychiatric disorders. Jonathon Sedgwick, AbbVie’s senior vice president and global head of discovery research, emphasized the importance of continuing to innovate in this area to meet the significant unmet needs of patients.
Gábor Orbán, CEO of Gedeon Richter, expressed his excitement about the new agreement, stating that it is a testament to the successful partnership between the two companies. The collaboration will involve joint funding for both preclinical and clinical R&D activities, with Richter receiving an upfront payment of USD 25 million upon signing, as well as potential future milestone payments.
In addition to the financial aspects of the agreement, Richter will also receive sales-based royalties. AbbVie will have worldwide commercialization rights for the developed therapies, except for Richter’s traditional markets in Europe, Russia, other CIS countries, and Vietnam.
This new collaboration highlights Richter’s commitment to advancing research in the field of neuropsychiatric conditions and will further support AbbVie’s global efforts in this area. The partnership is expected to lead to the development of innovative treatments that can make a positive impact on patients’ lives.
