Amylin Pharmaceuticals, Inc. (AMLN) and Takeda Pharmaceutical Co. Ltd. announced Sunday their worldwide exclusive license agreement to co-develop and commercialize pharmaceutical products for the treatment of obesity and related indications.
The companies noted that the agreement includes products to be developed from Amylin's pipeline, including pramlintide/ metreleptin and davalintide, which are compounds currently in phase 2 development for treatment of obesity, as well as additional compounds from both companies' obesity research programs.
Under the deal, San Diego, California-based biopharmaceutical company Amylin will receive a one-time up-front payment of $75 million from Osaka, Japan-based Takeda. Over the term of the agreement and in relation to the compounds under the agreement, Amylin is eligible to receive additional payments upon achieving certain development, commercialization and sales-based milestones that could exceed $1 billion. According to the companies, the agreement also provides for future tiered, double-digit royalty payments to Amylin based on global product sales.
Amylin will be responsible for executing development activities for potential products through phase 2 with the aim of regulatory approval in the U.S. Meanwhile, Takeda will lead development activities beyond phase 2 in the U.S., and all development activities outside the U.S.
In most instances, Amylin will be responsible for 20% of development costs associated with obtaining approval for products in the U.S., while Takeda will be responsible for 80% of such U.S. development costs. Takeda will also be responsible for full development costs associated with obtaining approval for products outside the U.S.
As per the agreement, Takeda will lead product commercialization, both in the U.S. and outside the U.S., and will be responsible for complete commercialization costs. The companies pointed out that Amylin will have the option to co-commercialize the first two approved products in the U.S. and any follow-on products containing the identical active ingredients.
Commenting on the agreement, Yasuchika Hasegawa, president & chief executive officer, Takeda, said, "Takeda is excited to realize this partnership with Amylin focused on the treatment of obesity and related indications. By leveraging Takeda's global development and commercial infrastructure we look forward to maximizing the significant potential of the products under this agreement. Both Amylin and Takeda have extensive experience in the diabetes and metabolic disease area, and this collaboration should allow us to more quickly bring promising new treatments to patients in need."
Daniel Bradbury, president and chief executive officer, Amylin, stated, "This collaboration will leverage Amylin's experience and expertise with peptide and protein science and Takeda's worldwide development and commercial expertise. Amylin recognizes the enormous potential of this collaboration to advance more options in obesity treatment more quickly than either company could do alone."
AMLN closed Friday's regular trading session at $11.04, down $0.37 or 3.24%, on a volume of 2.19 million shares.
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