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March 4, 2013
09:04 EDTREGNRegeneron announces potential additional royalty stream related to EU approval
Regeneron announced that it will receive an additional potential royalty stream now that the European Commission has approved Novartis' llaris in the treatment of patients with acute gouty arthritis who suffer frequent attacks, and whose symptoms cannot or should not be managed with current treatment options. Ilaris is the first biologic approved in the European Union for symptomatic pain relief in a gouty arthritis indication, and is administered in a single, subcutaneous injection of 150 mg. Under a June 2009 agreement with Novartis, Regeneron receives royalties on worldwide sales of Ilaris. The overall royalty rate in the agreement starts at 4% and reaches 15% when annual sales exceed $1.5 billion. In 2012, Regeneron reported full year Ilaris royalties of $2.8 million.
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