Teduglutide is indicated for the treatment of adult short bowel syndrome.
PTH 1-84 is approved for post-menopausal osteoporosis in the European Union and is being developed for the treatment of hypoparathyroidism in the US.
According to the amended deal, NPS will obtain assets related to the products such as active pharmaceutical ingredient inventory and information concerned with the product development, manufacture, and commercialization, in addition to life cycle management assets from Takeda.
Takeda will receive NPS common stock of $50m and a potential future sales-based milestone payment of $30m, in cash or NPS common stock.
NPS Pharmaceuticals president and chief executive officer Francois Nader said, "Our primary focus is to secure reimbursement for Revestive in Europe and to finalize our commercial strategy for both drugs to maximize their worldwide success."
NPS licensed PTH 1-84 (Preotact) and teduglutide (Revestive) commercial rights to Nycomed in 2004 and 2007, respectively, for territories outside of North America. Nycomed was acquired by Takeda in 2011.
Takeda chief commercial officer Dr Frank Morich said, "Orphan drugs like teduglutide, serve high unmet medical needs. We are confident that as an orphan and specialty company, NPS is best suited to maximize the value of teduglutide and PTH 1-84 and ensure that as many patients as possible benefit from treatment."