AMAG Pharmaceuticals (AMAG)

[mlkrborn]

AMAG licenses Feraheme to Takeda in $280M deal


LEXINGTON, Mass.

AMAG Pharmaceuticals announced a licensing deal potentially worth $280 million Thursday to sell its anemia drug in some overseas markets.

Japanese drugmaker Takeda Pharmaceutical Co. bought the rights to market Feraheme in Europe, the Commonwealth of Independent States, Canada, Turkey, and the Asia-Pacific region excluding China, Japan, and Taiwan.

Takeda will pay AMAG $60 million upfront, and as much as $220 million if Feraheme advances through clinical development and regulatory review. AMAG will also get royalties of more than 10 percent on sales if the drug is approved.

The Commonwealth of Independent States is an alliance comprising most of the former Soviet Union. Its official members are Russia, Armenia, Azerbaijan, Belarus, Kazakhstan, Krygyzstan, Moldova, Tajikstan, and Uzbekistan.

Shares of AMAG Pharmaceuticals Inc. rose 3 percent, or $1.09, to $36 in premarket trading.

Feraheme is an intravenous drug intended to treat iron deficiency anemia. In the U.S., it is approved for use in patients with chronic kidney disease. The agreement covers all potential indications for the drug.

Under the deal, AMAG will be responsible for all clinical testing of Feraheme. It will handle regulatory filings in Europe and Canada. Takeda will handle those filings in the other countries covered by the agreement.

Feraheme was approved in the U.S. in July. AMAG plans to file for marketing approval in Europe in mid-2010.