Roche, Atea team up on potential COVID-19 pill

FILE PHOTO: A sign at a diagnostics site for Swiss pharmaceutical giant Roche is seen as the company said problems at a new warehouse delayed the dispatch of some products, as the spread of the coronavirus disease (COVID-19) continues, in Burgess Hill, Britain, October 7, 2020. REUTERS/Peter Nicholls

Roche Holding and Atea Pharmaceuticals have joined forces to develop an antiviral oral treatment called AT-527, now in phase 2 clinical trials, as a potential treatment for COVID-19 patients, the companies said on Thursday.

If the pill is approved, Boston-based Atea will distribute it in the United States and Roche will be responsible for global manufacturing and distribution outside the U.S. market. Atea will get an upfront payment of $350 million in cash from Roche with potential for future milestone payments and royalties.

(Reporting by Michael Shields; Editing by Riham Alkousaa)