Furiex Pharmaceuticals, Inc. (NASDAQ: FURX) today confirmed that Takeda Global Research & Development Centre (Europe) Ltd. received confirmation on the acceptance of the submission of a Marketing Authorization Application, or MAA, from the European Medicines Agency for alogliptin, a selective dipeptidyl peptidase IV, or DPP-4, inhibitor for the treatment of type 2 diabetes.
Under Furiex's agreement with Takeda, this acceptance triggers a $10.0 million milestone payment to Furiex. Furiex receives royalty payments from Takeda for the sale of alogliptin products, trade names NESINA® and LIOVEL®, in Japan, and it will receive royalties on sales in Europe, if approved.
"The acceptance of the MAA submission for alogliptin is an important step in expanding this treatment option to a wider patient population," said June Almenoff, M.D., Ph.D., president and chief medical officer of Furiex.
Added Fred Eshelman, Pharm.D., chairman of Furiex, "From the onset we have believed in the value of alogliptin to patients, and we are pleased with this achievement."
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