Teva Pharmaceuticals Acquires Neuroscience Assets from BioXcel Therapeutics in Up to $125M Deal
Teva Pharmaceuticals International has agreed to acquire neuroscience assets from BioXcel Therapeutics for up to $125 million as part of the latter's Chapter 11 bankruptcy proceedings. The deal includes worldwide rights to Igalmi, a prescription medicine currently on the market, and BXCL501, an investigational drug under FDA review for treating acute agitation in adults with schizophrenia or bipolar disorder. Teva has been designated as the stalking horse bidder in the asset auction process overseen by US Bankruptcy Court. The transaction includes $57.5 million upfront payment, with up to $67.5 million contingent on FDA approval and sales milestones. BioXcel is also securing $19 million in debtor-in-possession financing from existing lenders. Teva's executive vice president of business development emphasized the strategic importance of this acquisition for its growth strategy, highlighting innovation, risk balance, and long-term value creation.
