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Mylan will pursue Botox biosimilar in deal with Revance

Mylan NV and Revance Therapeutics Inc. agreed to develop and market Revance's copycat version of Allergan plc's blockbuster drug Botox, which is used to fill wrinkles and treat migraine headaches.

As part of the collaboration, British drugmaker Mylan has to pay $25 million to Revance up front, with milestone payments contingent on achieving additional clinical, regulatory and sales targets, plus sales royalties in all relevant markets.

Botox is a biologic medicine derived from a bacterial toxin. It is a neuromodulator, a chemical messenger that acts on the nervous system, and is approved for both cosmetic and therapeutic uses including migraines and urinary incontinence, according to the U.S. Food and Drug Administration's website. Botox brought in almost $3.17 billion for Allergan in 2017, according to the company's full-year earnings report.

Mylan and Revance said they will work together to gain regulatory approval of the biologically equivalent version, or biosimilar, of Botox and commercialize the product in the U.S., Europe and other markets throughout the rest of the world.

Newark, Calif.-based Revance reported positive phase 3 data for the Botox biosimilar, onabotulinumtoxinA, in December 2017 and said it planned to launch the product in 2020.