Takeda and NPS revise agreements for two products

Takeda and NPS Pharmaceuticals have revised their agreements for Teduglutide and Recombinant Human Parathyroid Hormone 1-84.

As part of the deal, NPS will have global rights to develop and commercialise teduglutide and PTH 1-84, while Takeda will assign its assets and pharma ingredient inventory to NPS.

Takeda will obtain common stock valued at $50 million (£33 million) and receive a milestone payment in the first year when combined worldwide net sales of the products surpass $750 million (£496 million).

Teduglutide is marketed in the US under the name Gattex and is consented in Europe as Revestive. It is used to treat adult short bowel syndrome and was approved in the European Union and US in August and December 2012 respectively.

On the other hand, PTH 1-84 has been approved for post-menopausal osteoporosis in the EU since April 2006, where it is known under the trade name Preotact. In Europe, it is instead known as Natpara.

Francois Nader, president and chief executive officer of NPS Pharmaceutical, said: "This transaction establishes NPS as a global commercial rare disease company.

"Our primary focus is to secure reimbursement for Revestive in Europe and to finalize our commercial strategy for both drugs to maximize their worldwide success."

Mr Nader went on to say that the company's 2013 priorities remain the successful launch of Gattex and the submission of the US marketing application for Natpara.

Dr Frank Morich, chief commercial officer of Takeda, said that orphan drugs such as teduglutide "serve high unmet medical needs".

"We are confident that as an orphan and specialty company, NPS is best suited to maximize the value of teduglutide and PTH 1-84 and ensure that as many patients as possible benefit from treatment," Mr Morich went on to say.

NPS also has a range of other medical products, including the two calcilytic compounds NPSP790 and NPSP795.

Posted by Neil Clark