Exelixis (EXEL), Takeda (TKPYY) in Deal for Cancer Therapy; Teva Pharma (TEVA) Plunges on U.S. Court Decision

exelixis_exel

Exelixis, Inc. (Nasdaq:EXEL) said after the closing bell Monday that it has signed an exclusive licensing agreement with Japanese drug giant Takeda Pharmaceutical Co. Ltd. (OTCMKTS:TKPYY) for its cancer therapy Cabozantinib in Japan.

The deal calls, among other things, for Takeda to pay Exelixis $50 million upfront, up to $95 million based on the achievement of pre-determined product milestones and Exelixis is eligible also to receive sales royalties.

EXEL stock finished the regular session in negative territory by 1.56% (or -$0.29) at $18.28, with a total volume of 5.05M shares traded.

Exelixis, which is engaged in developing small molecule therapies for the treatment of cancer, has 286.46M shares outstanding, market capitalization (intraday) of $5.26B and EXEL stock 52-week range is from $3.55 to $19.30 per share.

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Shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) slumped more than 6% to near their 52-week low levels in after-hours trading Monday as the Israel-based drugmaker said that a U.S. District Court has ruled that its asserted claims of four Orange Book-listed patents relating to its top-selling multiple sclerosis treatment Copaxone (glatiramer acetate injection) 40 mg/mL were invalid.

TEVA stock closed at $34.52, down $0.07 (or -0.20%), and 7.66M of its shares changed hands during the day.

Teva Pharmaceutical, which develops, manufactures, markets, and distributes generic medicines and a portfolio of specialty medicines worldwide, has 1.01B shares outstanding. At close on Monday, the company had a market capitalization of $34.90B and TEVA stock one-year range was from $32.11 to $62.80 per share

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