UCB Signs Up To $1.5 Bln Deal With Novartis To Co-develop Two Parkinson's Disease Drugs

The Belgian pharmaceutical company, UCB (UCB.BR), said on Thursday that it has inked an agreement of up to $1.5 billion with Novartis(NVS) to co-develop and commercialize its two development stage Parkinson's disease drugs- UCB0599 and UCB7853. According to the deal signed, UCB will receive an upfront payment of $150 million from Novartis.