Teva Pharmaceuticals International GmbH, a subsidiary of Teva Pharmaceutical Industries Ltd (NYSE: and TASE: TEVA), announced on Thursday that it has entered into a global licensing agreement with biopharmaceutical company Polpharma Biologics International AG covering Polpharma Biologics' proposed biosimilar candidate to Ocrevus (ocrelizumab) for multiple sclerosis.

This agreement grants Teva exclusive rights to commercialise intravenous and subcutaneous formulations upon regulatory approval, expanding the company's biosimilars pipeline under its Pivot to Growth strategy.

Polpharma Biologics will retain responsibility for development and manufacturing, while Teva will manage regulatory submissions and commercialisation across the United States, Europe, Brazil, Canada, Australia, New Zealand, Israel and Turkey. The collaboration combines Polpharma Biologics' biosimilar development expertise with Teva's commercial capabilities to support broader access to biologic medicines.

Ocrelizumab is a humanised monoclonal antibody targeting CD20-positive B cells associated with autoimmune activity in multiple sclerosis. Ocrevus is indicated for relapsing forms of multiple sclerosis and primary progressive multiple sclerosis.