NPS Pharmaceuticals and Nycomed in US$90m marketing agreement

Published: 21-Apr-2004

US-based NPS Pharmaceuticals and the Danish Nycomed Group have signed a distribution and license agreement granting Nycomed rights to develop and market the investigational osteoporosis drug PREOS in Europe, including the Commonwealth of Independent States (CIS) and Turkey.


US-based NPS Pharmaceuticals and the Danish Nycomed Group have signed a distribution and license agreement granting Nycomed rights to develop and market the investigational osteoporosis drug PREOS in Europe, including the Commonwealth of Independent States (CIS) and Turkey.

Nycomed will be responsible for European clinical development, registration and marketing of PREOS, as well as for conducting Phase IIIb and IV clinical trials in Europe, representing a minimum additional investment of $25m on top of an equity investment in NPS of $40m and up to $25m in milestone payments.

PREOS is recombinant human parathyroid hormone being developed by NPS as a potential treatment for osteoporosis. It has been shown in clinical trials to build bone and reduce the risk of fractures of the spine in postmenopausal women with low bone mineral density. Nycomed plans to submit applications for regulatory approval in Europe following the filing of a US New Drug Application by NPS later this year.

The agreement strengthens Nycomed's position in the rapidly growing European osteoporosis market and enables NPS to focus on preparing PREOS for launch in North America.

  

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