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RPT-Bristol-Myers Squibb in heart drug collaboration

Wed Mar 4, 2009 9:32pm EST

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(Repeats to widen distribution)

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NEW YORK, March 4 (Reuters) - Bristol-Myers Squibb (BMY.N) on Wednesday announced a collaboration with Nissan Chemical Industries Ltd and Teijin Pharma Ltd for the development and commercialization of a drug to help maintain normal sinus rhythm in patients with atrial fibrillation.

The drug, NTC-801, is under development in Japan.

An upfront cash payment of $40 million, potential development-based milestones of up to $170 million, sales-based milestones of up to $175 million and royalties are payable by Bristol-Myers Squibb. (Reporting by Helen Chernikoff; editing by Carol Bishopric)

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