Zealand Pharma, Novo Nordisk Ink Licensing Pact For Drug To Lower Blood Sugar Levels
$NVO
$ZEAL
Biotechnology: Pharmaceutical Preparations
Health Care
Biotechnology: Pharmaceutical Preparations
Health Care
- Zealand Pharma A/S (NASDAQ:ZEAL) has entered into a global license and development agreement with Novo Nordisk A/S (NYSE:NVO) to commercialize Zegalogue (dasiglucagon) for injection.
- FDA approved Zegalogue for severe hypoglycemia in pediatric and adult patients with diabetes aged six and above.
- Under the terms of the agreement, Zealand will receive an upfront payment of DKK 25 million and is eligible to receive up to DKK 45 million in near-term development, regulatory, and manufacturing-based milestones.
- Related: Zealand Pharma's Dasiglucagon Aces Late-Stage Study In Pediatric Patients, Shares Move Higher.
- Zealand is also eligible to receive up to DKK 220 million in sales-based milestones and tiered royalties ranging from high single-digit to low double-digit percentages.
- Zealand will be responsible for certain planned regulatory, development, and manufacturing activities to support further development and approval outside the U.S.
- Zealand will retain all non-licensed intellectual property rights to the company's other dasiglucagon development programs.
- Price Action: ZEAL shares closed at $16.30 on Tuesday. NVO shares are down 1.30% at $102.24 during the premarket session on the last check Wednesday.