Healthcare Business Rewind: Furiex’ GOOD NEWS, Pfizer TERMINATES Licenses
Shares of Furiex Pharmaceuticals, Inc. (NASDAQ:FURX) closed higher on the day following confirmation that Takeda Pharmaceutical (TKPYY.PK) has resubmitted New Drug Applications to the FDA for alogliptin and fixed-dose combination therapy alogliptin and pioglitazone, used for treating adult type 2 diabetes. Under its agreement with Takeda, the former may receive a $25 million milestone payment upon the approval of the first of these two NDAs, and additional royalties and sales-based milestones as well.
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Pfizer, Inc. (NYSE:PFE) reports that it is exercising its right to terminate the license and return three development stage products, oxycodone hydrochloride with acetaminophen, hydrocodone bitartrate with acetaminophen and another undisclosed opioid, to Acura Pharmaceuticals, Inc. (NASDAQ:ACUR). A fourth product, that employs Acura’s Aversion Technology, Oxecta Tablets CII, is being commercialized, for which Pfizer will retain all rights and obligations through the current license agreement.
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