NEW YORK: Mylan NV on Wednesday struck a licensing agreement with Revance Therapeutics Inc to develop a biosimilar of Allergan Plc’s blockbuster Botox wrinkle treatment.
The deal includes an upfront payment of $25 million to Revance, Mylan said.
Revance’s own rival to Botox is not yet approved by the U.S. Food and Drug Administration. Revance reported positive Phase III data for its longer-lasting wrinkle treatment in December and said then that it planned to launch the drug in 2020, pending FDA approval.
(Reporting by Michael Erman; Editing by Susan Thomas)