February 28, 2018 / 9:19 PM / 20 days ago

CORRECTED-Mylan teams up with Revance on biosimilar for Botox

(Corrects 3rd paragraph to show that Phase III trial is for a different rival drug)

NEW YORK, Feb 28 (Reuters) - Mylan NV on Wednesday struck a licensing agreement with Revance Therapeutics Inc to develop a biosimilar of Allergan Plc’s blockbuster Botox wrinkle treatment.

The deal includes an upfront payment of $25 million to Revance​, Mylan said.

Revance’s own rival to Botox is not yet approved by the U.S. Food and Drug Administration. Revance reported positive Phase III data for its longer-lasting wrinkle treatment in December and said then that it planned to launch the drug in 2020, pending FDA approval. (Reporting by Michael Erman Editing by Susan Thomas)

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