Novo Nordisk And Emisphere Sign Insulin Licensing Deal
December 21 2010 - 6:28AM
Dow Jones News
DOW JONES NEWSWIRES
Danish pharmaceutical company Novo Nordisk A/S (NOVO-B.KO) said
Tuesday it has entered a development and licensing agreement with
U.S.-based Emisphere Technologies Inc. (EMIS) to develop and and
commercialize oral formulations of Novo Nordisk's insulins.
The agreement includes $57.5 million in potential product
development and sales milestone payments to Emisphere, of which $5
million will be payable upon signing, as well as royalties on
sales.
The deal is the second licensing deal between the companies,
following an agreement in 2008 for development of oral formulations
of GDP-1 receptor antagonist drugs.
At 1045 GMT, shares in Novo Nordisk were up 0.1%, against a 0.3%
rise in the wider Copenhagen market.
-By Gustav Sandstrom, Dow Jones Newswires; +46-8-5451-3099;
gustav.sandstrom@dowjones.com