Mochida diabetes deal with Merck; Vanda links with Megapharm

14 December 2011

Japanese mid-sized drugmaker Mochida Pharmaceutical (TYO: 4534) saw its shares jump 5.8% to 900 yen, after the company said it had entered into a license agreement with US drug giant Merck & Co (NYSE: MRK) relating to a portfolio of drug candidates invented by Mochida for the potential treatment for type-2 diabetes.

Under the terms of the accord, Merck has been granted a worldwide exclusive license to develop, manufacture, use and sell the potential drug candidates. In return, Merck will pay Mochida an undisclosed upfront amount and potential development milestones, as well as royalties on the sales of any products derived from the collaboration. Mochida has retained an option to co-develop and co-market any products in Japan.

This agreement with Merck will have only minor impact on the business performance of Mochida for the near term, the Japanese firm said.

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