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news.Procter & Gamble Pharmaceuticals has acquired rights for the worldwide development and commercialization of Nastech Pharmaceutical's osteoporosis nasal spray, PTH1-34, for a potential $577 million.
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Total payments could reach $577 million over the life of the project depending upon the successful completion of specified development, regulatory, and commercialization goals.
Nastech will receive an upfront fee, milestone payments, and royalties on product sales. Payments include a $10 million initial payment upon execution of the agreement and the potential for additional milestone payments of up to $22 million in the first year.
Clinical and non-clinical studies on PTH1-34 nasal spray are currently being completed in preparation for phase III clinical development.
The companies will jointly develop the product, and P&G will reimburse Nastech for any development activities performed by Nastech under the agreement. P&G will assume responsibility for clinical and non-clinical studies and regulatory approval.
“A non-invasive PTH1-34 nasal spray for the treatment of osteoporosis would be welcomed by physicians and patients, potentially resulting in wider use and increased patient acceptance,” said Dr Felicia Cosman, medical director of the Clinical Research Center at the Helen Hayes Hospital, and an osteoporosis specialist.