This report provides details of the latest Co-development agreements announced in the pharmaceutical, biotechnology and diagnostic sectors. Fully revised and updated, the report provides details of Co-development agreements from 2012 to 2018.
There is an increasing willingness for parties to enter co-development deals; such deals enable both parties to benefit from the upside of a big product win, whereas traditional licensing deals forfeit upside for near term upfront, milestone and royalty payments.
Co-development partnering allow the parties to securitize value and reduce risk, but keep a part of the potential upside should the product reach the market. Event if the licensor does not commercialize the project they can either sell those rights to the licensee partner or another partner for an amount higher than would have been achieved at an earlier stage licensing deal.
There are mainly two forms of co-development deals; Either the parties agree on a certain division of ownership, or decide that one party gets the rights to commercialise the drug in a certain geographical area, and the other side gets the other geographical area rights. Typically, the ownership division applies when it is likely that the project will be licensed at a later point in time. The geographical split usually applies when the two companies are determined to commercialise the drug themselves.
Another reason for co-development deals is the joint origin of a project. Drug development projects often require various scientific and technological novelties that stem from different companies. If both companies contributed to the origination of the project, then both have from the beginning a stake in the project.
Understanding the flexibility of a prospective partner’s negotiated deals terms provides critical insight into the negotiation process in terms of what you can expect to achieve during the negotiation of terms. Whilst many smaller companies will be seeking details of the payments clauses, the devil is in the detail in terms of how payments are triggered - contract documents provide this insight where press releases and databases do not.
This report contains a comprehensive listing of Co-development deals announced since 2012 as recorded in the Current Agreements deals and alliances database, including financial terms where available, plus links to online copies of actual Co-development contract documents as submitted to the Securities Exchange Commission by companies and their partners.
Contract documents provide the answers to numerous questions about a prospective partner’s flexibility on a wide range of important issues, many of which will have a significant impact on each party’s ability to derive value from the deal.
The initial chapters of this report provide an orientation of Co-development dealmaking and business activities. Chapter 1 provides an introduction to the report, whilst chapter 2 provides an overview and analysis of the trends in Co-development as well as a discussion on the merits of the type of deal.
Chapter 3 provides an overview of the structure of Co-development deals. The chapter includes numerous case studies to enable understanding of both pure Co-development deals and multicomponent deals where Co-development forms a part.
Chapter 4 provides a review of the leading Co-development deals since 2012. Deals are listed by headline value. Where the deal has an agreement contract published at the SEC a link provides online access to the contract via the Current Agreements deals and alliances database.
Chapter 5 provides a comprehensive listing of the top 50 most active Co-development dealmaker companies. Each deal title links via Current Agreements deals and alliances database to an online version of the full deal record, and where available, the actual contract document, providing easy access to each deal record on demand.
Chapter 6 provides a comprehensive review of co-development financials for deals announced since 2012, including headline value, upfront, milestone payments and royalty rates, providing both benchmark data and access to individual deal financials.
Chapter 7 provides a comprehensive and detailed review of Co-development deals organized by company A-Z, therapy, technology and industry type signed and announced since 2012 where a contract document is available. Contract documents provide an indepth insight into the actual deal terms agreed between the parties with respect to the Co-development deal.
The appendices to the report includes a comprehensive listing of all Co-development deals announced since 2012. Each listing is organized as an appendix by company A-Z, stage of development at signing, therapeutic area and industry type. Each deal title links via hyperlink to an online version of the deal record including, where available, the actual contract document.
The report includes deals announced by hundreds of life science companies including big pharma such as Abbott, Abbvie, Actavis, Amgen, Astellas, AstraZeneca, Baxter, Bayer, Biogen Idec, BMS, Celgene, Eisai, Eli Lilly, Gilead, GSK, J&J, Kyowa Hakko, Merck, Mitsubishi, Mylan, Novartis, Pfizer, Roche, Sanofi, Shire, Takeda, Teva, and Valeant, amongst many others.
The report also includes numerous table and figures that illustrate the trends and activities in Co-development dealmaking since 2012.
In conclusion, this report provides everything a prospective dealmaker needs to know about Co-development alliances.
Global Co-development Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2012-2018 provides the reader with the following key benefits:
- In-depth understanding of co-development partnering deal trends since 2012
- Analysis of the structure of co-development agreements with numerous real life case studies
- Comprehensive listing of all co-development deals since 2012, together with deal terms, value and press release
- Comprehensive access to actual co-development contracts entered into by the world’s leading life science companies
- Analysis of key deal financials including headline value, upfront, milestone payments and royalty rates
- Insight into the terms included in a co-development agreement, together with real world clause examples
- Understand the key deal terms companies have agreed in previous deals
- Undertake due diligence to assess suitability of your proposed deal terms for partner companies
Global Co-development Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2012-2018 is intended to provide the reader with an in-depth understanding of the co-development trends and structure of deals entered into by leading life science companies worldwide.
Global Co-development Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2012-2018 includes:
- Trends in co-development dealmaking in the biopharma industry since 2012
- Analysis of co-development deal structure
- Case studies of real-life co-development deals
- Comprehensive listing of co-development deals since 2012
- Access to co-development contract documents
- Key financial bnchmarks for headline, upfront, milestone and royalty rates
- The leading co-development deals by value since 2012
- Most active co-development dealmakers since 2012
- The leading co-development partnering resources
- Company A-Z
- Headline value
- Therapeutic area
- Technology type
The Global Co-development Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2012-2018 report provides comprehensive access to available contract documents for co-development deals. Analyzing actual contract agreements allows assessment of the following:
- What are the precise rights granted or optioned?
- What is actually granted by the agreement to the partner company?
- What exclusivity is granted?
- What is the payment structure for the deal?
- How do milestone align with clinical stage development phases?
- How aresalesand payments audited?
- What is the deal term?
- How are the key terms of the agreement defined?
- How are IPRs handled and owned?
- Who is responsible for commercialization?
- Who is responsible for development, supply, and manufacture?
- How is confidentiality and publication managed?
- How are disputes to be resolved?
- Under what conditions can the deal be terminated?
- What happens when there is a change of ownership?
- What sublicensing and subcontracting provisions have been agreed?
- Which boilerplate clauses does the company insist upon?
- Which boilerplate clauses appear to differ from partner to partner or deal type to deal type?
- Which jurisdiction does the company insist upon for agreement law?
Chapter 1 - Introduction
Chapter 2 - Trends in Co-development dealmaking
2.2. Definition of co-development deals
2.3. Success factors for co-development deals
2.4. When co-development can be useful
2.5. Attributes of co-development deals
2.6. Aligning partners to make the co-development work
2.7. Trends in Co-development deals since 2012
2.7.1. Co-development dealmaking by year, 2012 to 2018
2.7.2. Co-development dealmaking by phase of development, 2012 to 2018
2.7.3. Co-development dealmaking by industry sector, 2012 to 2018
2.7.4. Co-development dealmaking by therapy area, 2012 to 2018
2.7.5. Co-development dealmaking by technology type, 2012 to 2018
2.7.6. Co-development dealmaking by most active company, 2012 to 2018
2.8. Option to co-develop
2.9. The future of co-development deals
Chapter 3 - Overview of Co-development deal structure
3.2. Pure versus multi-component co-development deals
3.3. Pure co-development agreement structure
3.3.1. Example co-development agreements
3.3.1.a. Case study 1: Ambrx - Zhejiang Medicine
3.3.1.b. Case study 2: UniQure - Chiesi
Chapter 4 - Leading Co-development deals
4.2. Top Co-development deals by value
Chapter 5 - Top 50 most active Co-development dealmakers
5.2. Top 50 most active Co-development dealmakers
Chapter 6 - Co-development deal term financials
6.2. Co-development partnering headline values
6.3. Co-development deal upfront payments
6.4. Co-development deal milestone payments
6.5. Co-development royalty rates
Chapter 7 - Co-development deals including contracts directory
7.2. Co-development deals with contracts 2012 to 2018
Appendix 1 - Co-development dealmaking by companies A-Z
Appendix 2 - Co-development dealmaking by industry sector
Appendix 3 - Co-development dealmaking by stage of development
Appendix 4 - Co-development dealmaking by therapy area
Appendix 5 - Co-development dealmaking by technology
About the Publisher
Table of Figures
Figure 1: Definition of co-development
Figure 2: Situations where co-development can prove useful
Figure 3: Key components of a co-development deal
Figure 4: Issues in implementing co-development agreements
Figure 5: Trends in Co-development deal announcements, 2012 to 2018
Figure 6: Co-development deals signed at each phase of development, 2012 to 2018
Figure 7: Co-development deals by industry sector, 2012 to 2018
Figure 8: Co-development deals by therapy area, 2012 to 2018
Figure 9: Co-development deals by technology type, 2012 to 2018
Figure 10: Top 50 most active co-development dealmakers, 2012 to 2018
Figure 11: Co-development agreements - what should a contract include?
Figure 12: Components of the co-development deal structure
Figure 13: Top co-development deals by value 2012 to 2018
Figure 14: Most active Co-development dealmakers 2012 to 2018
Figure 15: Co-development deals with a headline value
Figure 16: Co-development deals with an upfront value
Figure 17: Co-development deals with a milestone value
Figure 18: Co-development deals with a royalty rate value