* Drugs are for short bowel syndrome, osteoporosis
* Takeda may also earn $30 mln milestone payment
March 19 NPS Pharmaceuticals Inc has
regained full worldwide rights to a pair of drugs from Japan's
Takeda Pharmaceutical Co in exchange for $50 million in
NPS common shares, the companies announced on Tuesday.
Under the deal, NPS will have worldwide rights to develop
and sell teduglutide, a treatment for a rare condition called
short bowel syndrome sold in Europe as Revestive and in the
United States as Gattex, and for an osteoporosis drug sold in
Europe under the brand name Preotact.
Takeda had picked up the sales rights outside North America
for the two drugs with its 2011 acquisition of Nycomed, which
had licensed the commercial rights from NPS.
Takeda agreed to hand over to NPS all assets related to the
two products, including its active pharmaceutical ingredient
inventory and information related to the continued development,
manufacture, and commercialization of the drugs, the companies
In addition to the $50 million in NPS shares, Takeda is
entitled to a milestone payment in the first calendar year that
combined worldwide net sales of the two products exceed $750
million, the companies said. NPS will have the option of making
the $30 million milestone payment in cash or in NPS common
Preotact, a redesigned form of a human parathyroid hormone
also known as PTH1-84, is also being developed as a treatment
for hypoparathyroidism in which the glands do not produce enough
of the hormone, the companies said.