Neurocrine signs licensing deal worth up to $235 million with Boehringer for diabetes drug GPR119, hot on the heels of Abbott accord

18 June 2010

In the space of just 24 hours, USA-based Neurocrine Biosciences has signed a second major licensing deal, this time with independent German drug firm Boehringer Ingelheim for a type 2 diabetes drug candidate that could earn the firm up to $235 million.

A day earlier, it linked up with Abbott Laboratories to develop its endometriosis agent elagolix in a $575 million accord (The Pharma Letter June 17). Neurocrine's shares, already up 13% on the Abbott deal, advanced a further 6.1% to $5.70 in premarket trading yesterday.

Neurocrine has established a worldwide collaboration with Boehringer Ingelheim to research and develop small molecule GPR119 agonists for the treatment of type 2 diabetes and other indications. The companies will work jointly to identify and advance candidates into preclinical development. The German company is responsible for the global development and commercialization of potential GPR119 agonist products.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK