Intec Pharma Says Novartis Ends Development Agreement

Date : 12/11/2019 @ 1:20PM
Source : Dow Jones News
Stock : Novartis AG (NVS)
Quote : 95.19  -0.74 (-0.77%) @ 9:24PM
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Intec Pharma Says Novartis Ends Development Agreement

Intec Pharma (NASDAQ:NTEC)
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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)

Copyright (c) 2019 Dow Jones & Company, Inc.

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