NPS regains rights to bowel drug from Takeda

NEW YORK -- NPS Pharmaceuticals Inc. said Tuesday it is regaining the overseas marketing rights to its bowel drug Gattex and another product from Japanese drugmaker Takeda, and NPS shares surged in morning trading.

NPS is regaining rights to develop and sell the short bowel syndrome drug Gattex, which is also called Revestive, as well as a hormone drug called Preotact, in all countries. Preotact is approved in Europe as a treatment for post-menopausal osteoporosis, and NPS is trying to get it approved in the U.S. as a treatment for hypoparathyroidism under the name Natpara. NPS said it will also get assets related to the two products.

Takeda Pharmaceutical Co. had the right to develop and market the drug in most countries other than the U.S. Takeda will get $50 million in NPS stock, and it can get a milestone payment of $30 million the first year that combined sales of the drugs exceed $750 million. NPS can choose to make that payment in cash or stock.

Shares of NPS Pharmaceuticals rose $1.54, or 17 percent, to $10.58 in morning trading.

The generic name of Gattex and Revestive is teduglutide. The drug is designed to treat short bowel syndrome, a potentially life-threatening chronic condition that prevents patients from absorbing nutrients from food. People with short bowel syndrome are prone to malnutrition, diarrhea and dehydration. Teduglutide is a pill taken once a day and it is intended to reduce the need for intravenous nutrition in adult patients.

Hypoparathyroidism is a deficiency of parathyroid hormone.

NPS is based in Bedminster, N.J. It licensed Preotact to Swiss drugmaker Nycomed in 2004, and Nycomed licensed Revestive in 2007. Takeda bought Nycomed in 2011.

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FDA approves 3 new diabetes drugs from Takeda

WASHINGTON -- The Food and Drug Administration on Friday approved three new formulations of a Takeda Pharmaceuticals Co. Ltd. diabetes drug designed to help patients control their blood sugar.

The common ingredient in all three drugs is a new compound called alogliptin, which stimulates the release of insulin, a hormone that controls blood-sugar levels. The FDA approved the drug in stand-alone form under the brand-name Nesina. The drug will also be sold in combination with metformin, under the name Kazano, and with pioglitazone, as Oseni. Metformin is a diabetes drug that has been used for decades. Pioglitazone is a newer diabetes drug sold by Takeda as Actos.

All three new drugs were approved for patients with type 2 diabetes, the most common form of the disease that affects about 24 million Americans. People with the disease have excessive levels of sugar in their blood, which can lead to heart attacks, kidney problems, blindness and other serious complications.

The FDA created tougher cardiovascular-safety standards for diabetes drugs in December 2008 after concerns were raised about certain treatments such Avandia, which was found to increase the risk of heart attacks.

Last year the patent on Takeda's best-selling diabetes drug Actos expired, allowing generic drugmakers to market cheaper versions. Nesina gives the company a new exclusive medicine in the diabetes market.

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