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news.Takeda Pharmaceutical has received pricing approval for Nesina (alogliptin) in Japan. Takeda collaborated with Furiexto develop this product.
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Nesina, a highly selective DPP-4 inhibitor for the treatment of type 2 diabetes, has received regulatory approval from the Japanese Ministry of Health, Labour and Welfare on April 16, 2010.
As per the agreement with Takeda, upon receipt of both regulatory and pricing approvals, Furiex is entitled to receive a $7.5m milestone payment from Takeda.
June Almenoff, president and chief medical officer of Furiex Pharma, said: “Receiving pricing approval for Nesina in Japan represents another important milestone for both Nesina and Furiex. This approval confirms our strategy of developing innovative clinical development partnerships to bring new medicines to market.”
PPD, a global contract research organisation, plans to complete the spin-off of its compound partnering business as Furiex Pharma on June 14, at which point Furiex will operate as an independent, publicly traded company.