Lannett enters new insulin glargine deal with HEC

Lannett (NYSE:LCI) says in a filing that it’s entered into a new collaboration and license agreement with HEC.

The deal replaces an agreement in principle the two previously entered into, with respect to development, commercialization and distribution of HEC’s insulin glargine product in the United States.

In the deal, the two will share responsibility for an control of development; Lannett will pay development costs up to $32M and split amounts over that 50/50 for the next $13M in costs; HEC will make the product; and Lanentt will prepare the BLA filing that HEC will submit.

Also: Lannett will become exclusive distributor in the U.S. and have sole responsibility for commercializing it there; the two will share profits and losses for the first 10 years, and after that split 60/40 in favor of HEC; and Lannett will own IP rights tied to certain developed drug delivery devices associated with the product.

https://seekingalpha.com/news/3522265-lannett-enters-new-insulin-glargine-deal-hec