Teva Pharmaceutical Industries Unit Buys Rights to BXCL501 From BioXcel Therapeutics

MT Newswires Live10-27 22:07

Teva Pharmaceutical Industries' (TEVA) Teva Pharmaceuticals International unit said Tuesday it has completed the acquisition of assets from BioXcel Therapeutics, including global rights to BXCL501, for $57.5 million upfront and up to $67.5 million in contingent payments.

BXCL501 is an investigational dexmedetomidine sublingual film under review by the US Food and Drug Administration for potential at-home use to treat agitation linked with schizophrenia or bipolar I or II disorder in adults, the company said.

Teva said it bought the BioXcel assets via a court-supervised sale process under the US Bankruptcy Code.

Shares of Teva Pharmaceutical Industries were up 2.2% in Tuesday trading.

Price: 40.83, Change: +0.87, Percent Change: +2.18

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