NPS Pharmaceuticals, Inc. (NPSP) and Takeda Pharmaceutical Company Ltd Tuesday announced that NPS has regained full worldwide rights to teduglutide - intended for short bowel syndrome, marketed under the trade name Revestive in Europe and recombinant human parathyroid hormone 1-84, marketed under the trade name Preotact and approved for post-menopausal osteoporosis in Europe.
NPS licensed the commercial rights to Preotact in 2004 and Revestive in 2007, for territories outside of North America to Nycomed, which was acquired by Takeda in 2011.
In return Takeda is to receive NPS stock worth $50 million and also earn a milestone payment in the first calendar year that combined worldwide net sales of both products exceed $750 million.
In addition to transferring the rights to develop and commercialize the products, Takeda is also expected to assign to NPS its assets related to the two products, including all of its active pharmaceutical ingredient inventory and information related to the products' continued development, manufacture, and commercialization, including life cycle management assets.
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