Myaln and Revance to collaborate to develop biosimilar BOTOX.

Mylan N.V. and Revance Therapeutics, Inc. have announced a global collaboration and license agreement for the development and commercialization of a proposed biosimilar to Botox (onabotulinumtoxinA). BOTOX is the market-leading neuromodulator approved for the treatment of multiple indications and usage in the United States with additional approvals globally.

The addition of this product further solidifies Mylan's long term commitment to the development and commercialization of biosimilars and complex products globally. The companies plan to work together to gain regulatory approval in the development of this important biosimilar product, and commercialize this product in the U.S., Europe and applicable markets throughout the rest of the world. The collaboration includes an upfront payment of $25 million to Revance, with contingent milestone payments upon achievement of additional clinical, regulatory and sales targets, plus sales royalties in all relevant markets..