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Bio-Thera Solutions Receives $2.3 Million in Milestone Payments for Arthritis Drug

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Bio-Thera Solutions (SHA:688177) received $2.3 million in milestone payments, net of tax, from India's Intas Pharmaceuticals, for the licensing of its BAT2506 or golimumab injection, according to a Thursday filing with the Shanghai bourse.

The Chinese drug company granted the Indian firm exclusive commercialization rights for the injection in the U.S.

Bio-Thera would be eligible for upfront and milestone payments of up to $164.5 million, plus double-digit percentage of net sales as part of a revenue-sharing scheme, the filing said.

The drug is indicated for moderately to severely active rheumatoid arthritis.

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