Takeda Inks Psychiatric Drug Deal with U.S. Firm

Economy

Tokyo, June 17 (Jiji Press)--Japan's Takeda Pharmaceutical Co. <4502> said Wednesday that it has concluded a deal to grant the exclusive development and sales rights for seven candidates for psychiatric drugs to a U.S. company.

Under the contract with Neurocrine Biosciences Inc. of San Diego, California, Takeda will receive 120 million dollars upfront in cash and up to 1,895 million dollars depending on progress in the development and sales of the seven compounds.

A new drug for schizophrenia is in a phase 2 clinical trial, the most advanced development stage among the seven compounds.

Takeda will also receive royalties on net sales of the drugs.

END

[Copyright The Jiji Press, Ltd.]

Jiji Press