Takeda and NPS Pharmaceuticals restructure alliance

Takeda and NPS Pharmaceuticals have agreed to revise their collaborative agreements to allow NPS to regain full worldwide rights to a pair of therapies.

The move will see NPS resume full control of the adult short bowel syndrome drug teduglutide – which is marketed under the name Revestive in Europe – as well as the post-menopausal osteoporosis compound PTH 1-84, known commercially as Preotact.

NPS licensed the commercial rights to these drugs to Nycomed in 2007 and 2004 respectively for territories outside of North America, with Takeda completing a takeover of Nycomed in 2011.

In return for giving back the rights, Takeda will receive $50 million (33 million pounds) in NPS common stock, while the transaction is structured in such a way that it will still be able to participate in NPS' future success with these products.

Dr Frank Morich, chief commercial officer of Takeda, said: "We are confident that as an orphan and specialty company, NPS is best suited to maximise the value of teduglutide and PTH 1-84 and ensure that as many patients as possible benefit from treatment."

This comes after Takeda announced the end of its obesity alliance with Amylin Pharmaceuticals at the end of last year.