Neurocrine Biosciences Inc (NBIX)

[surf1944]

6:15AM Neurocrine Biosciences and Abbott Labs announce global agreement to develop and commercialize elagolix for treatment of endometriosis (NBIX) 4.70 : Abbott (ABT) and Neurocrine Biosciences announce that they have entered into a collaboration agreement to develop and commercialize elagolix for the treatment of endometriosis-related pain. In addition to endometriosis, elagolix will be evaluated for the treatment of uterine fibroids. Under the terms of the agreement, Abbott will receive worldwide exclusive rights to develop and commercialize elagolix and all next-generation GnRH antagonists for women's and men's health. Abbott will make an upfront payment of $75 mln and will fund all ongoing development activities. Neurocrine is eligible to receive additional milestone payments of approx $500 mln from Abbott for the achievement of certain development, regulatory and commercial milestones; funding for certain internal collaboration expenses; plus royalty payments on any future product sales. NBIX will host a conf. call at 08:45 EST to discuss the agreement with ABT.