Teva Pharmaceutical Industries' (TEVA) Teva Pharmaceuticals International subsidiary and Polpharma Biologics said Thursday they have signed a global licensing agreement that gives Teva exclusive rights to commercialize Polpharma's proposed biosimilar to multiple sclerosis drug Ocrevus.

The licensing agreement covers both the intravenous and subcutaneous formulations of Polpharma's biosimilar candidate, the companies said.

Under the agreement, Polpharma Biologics will be responsible for the development and manufacturing of the biosimilar candidate, while Teva will be tasked with regulatory submissions and subsequent commercialization in the US, Europe, Brazil, Canada, Australia, New Zealand, Israel, and Turkey, according to a statement.