Schering-Plough Corporation (NYSE: SGP) and OraSure Technologies, Inc. (Nasdaq: OSUR) have agreed to collaborate on the development and promotion of a rapid oral test for the detection of antibodies to the hepatitis C virus (HCV) utilizing OraSure Technologies' OraQuick® technology platform.
The collaboration brings together OraSure (the leader in oral fluid diagnostics), developer and manufacturer of the OraQuick ADVANCE® Rapid HIV-1/2 Antibody Test (the first and only USFDA-approved rapid oral fluid HIV-1/2 Test, and Schering-Plough Corporation (a worldwide leader in the discovery and development of novel HCV therapies).
The terms of agreement include the following:
- Schering-Plough will reimburse OraSure for a portion of the costs incurred by OraSure to develop the rapid oral HCV test and also will provide certain promotional support in the physicians' office market in the United States.
- All sales of the HCV test will be made by OraSure, and OraSure will retain the rights to market and sell the test in all markets throughout the United States.
- The tests sold to U.S. physicians' offices will be co-branded and will incorporate OraSure's OraQuick® tradename and Be In Charge®, the name of Schering-Plough's free patient support program that provides access to in-depth, easy-to-understand educational information about chronic hepatitis C and its treatment.
The said agreement has an initial term of two years from the date that the test is first sold commercially.
Find more details from the press release.
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