NVS Novartis AG

By Colin Kellaher

Intec Pharma Ltd. (NTEC) on Wednesday said Novartis AG (NOVN.EB, NVS) has terminated an agreement for the development of a custom-designed Accordion Pill for a proprietary compound.

The Jerusalem clinical-stage biopharmaceutical company said that although the program met Novartis' technical and pharmacokinetic clinical specifications, the Swiss drug maker decided that it no longer meets its mid- to long-term strategic goals.

Intec said it will receive $1.5 million from Novartis on the conclusion of the program.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 11, 2019 08:05 ET (13:05 GMT)

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