Codexis, Inc. today announced a licensing agreement with Teva Pharmaceutical Industries Ltd., to produce an important publicly-undisclosed generic product, using a proprietary Codexis biocatalyst.
Teva, the largest generic drug manufacturer in the world, is a leading producer of this generic product. The product is one of the largest- selling generic prescription drugs in the United States.
Under the agreement, Teva would be using the Codexis process for key process steps in the manufacture of this product, assuming technical milestones are met. Codexis develops proprietary custom biocatalysts, and its technology contributes to lower pharmaceutical process development and manufacturing costs. Codexis technology is in use by leading drug companies worldwide. Financial terms were not disclosed.
"Codexis is very pleased to be partnering with Teva, providing high value technology in the extremely cost-competitive generics marketplace," said Alan Shaw, Ph.D., Codexis President and Chief Executive Officer. "Our proven technology reduces the cost of pharmaceutical process development and manufacturing, and provides our partners with a significant competitive advantage as they respond to increasing market demands for lower cost pharmaceuticals."