MedinCell in Pact With AbbVie on Long-Acting Injectables

MedinCell enters into a strategic co-development and licensing agreement with AbbVie to develop next-generation long-acting injectable therapies.

• MedinCell will receive an upfront payment of $35 million and is eligible for up to $1.9 billion in potential development and commercial milestones, plus royalties on worldwide sales
• MedinCell and AbbVie will co-develop, and AbbVie will commercialize up to six cutting-edge long-acting injectables
• AbbVie shares are up about 1.1% in US intra day trading

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