Teva padding migraine franchise; acquiring Labrys Biologics in potential $825M deal
Teva Pharmaceutical Industries Ltd. is raising its bet in the migraine-fighting market by buying Labrys Biologics Inc. for $200 million up front and up to $625 million in pre-launch milestone payments. The single-compound company's once-monthly injectable migraine prevention drug, LBR-101, could capture $2 billion to $3 billion in sales, according to Teva estimates, adding a lucrative new dimension to its growing portfolio of pain treatments.
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