NPS Pharmaceuticals (NPSP)

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2:16AM NPS Pharm and Takeda (TKPYY) revise agreements and NPS re-gains full worldwide rights to Teduglutide and recombinant human parathyroid hormone 1-84 (NPSP) 9.04 : NPS Pharmaceuticals (NPSP) and Takeda Pharmaceutical (TKPYY) announce that NPS has re-gained the full worldwide rights to teduglutide and recombinant human parathyroid hormone 1-84. NPS licensed the commercial rights to Preotact and Revestive in 2004 and 2007, respectively, for territories outside of North America to Nycomed, which was acquired by Takeda in 2011.

NPS will have worldwide rights to develop and commercialize teduglutide and PTH 1-84. Takeda will also 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. Takeda will receive NPS common stock valued at $50 mln. Takeda will also earn a milestone payment in the first calendar year that combined worldwide net sales of both products exceed $750 mln. NPS has the option of making this milestone payment in the amount of $30 mln, in cash or NPS common stock.