OraSure Technologies has entered into biotech deal and Co-Promotion Agreement with AbbVie under which AbbVie and OraSure will co-promote the Company's OraQuick HCV Rapid Test in the United States.
The product will be used to test individuals at-risk for hepatitis C.
OraSure will be responsible for manufacturing and selling the product directly into all markets.
OraSure has granted exclusive promotion rights to AbbVie for the OraQuick HCV test in certain markets and will provide certain additional services in support of HCV testing.
In exchange for the exclusive rights granted to AbbVie, OraSure will receive up to $75 million in exclusivity payments over the term of the agreement, which runs through December 31, 2019.
Upon achievement of certain performance-based milestones, OraSure will be eligible to receive additional payments annually over the life of the agreement.
For further deal information visit Current Agreements (subscription required)
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