Business in the Burbs

Japanese company to market Progenics drug

October

Progenics Pharmaceuticals Inc., a biotech company based in Eastview, said that a Japanese company has acquired the rights to sell its constipation drug Relistor in Japan.

Ono Pharmaceutical Co. Ltd. of Osaka, Japan, will be responsible for developing and commercializing Relistor in Japan, including pursuing regulatory marketing approval. Progenics will receive a $15 million upfront payment from Ono, with up to an additional $20 million payable based on development milestones, according to Progenics.

Relistor is being developed and commercialized in the rest of the world by Progenics and Wyeth Pharmaceuticals.

This entry was posted on Friday, October 17th, 2008 at 10:51 am by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Biopharmaceutical

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