Furiex Confirms Takeda’s Announcement On The Acceptance Of The European Medicines Agency Submission Of Alogliptin For The Treatment Of Type 2 Diabetes

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.”

About Type 2 Diabetes

Type 2 diabetes is the most common form of diabetes and has reached epidemic proportions globally. Almost 23 million Americans currently live with the disease. Type 2 diabetes is a progressive and chronic condition, and patients should work with a health care professional to manage and monitor their disease. In addition to diet and exercise, patients often need to take multiple medications to help manage blood glucose. The global health care expenditures to treat and prevent diabetes and its complications were estimated at $376 billion in 2010. By 2030, this number is projected to exceed $490 billion.

About Alogliptin

Alogliptin is a DPP-4 inhibitor being investigated in the U.S., as an adjunct to diet and exercise, for the treatment of type 2 diabetes. DPP-4 inhibitors address insulin deficiency by slowing the inactivation of incretin hormones GLP-1 (glucagon-like peptide-1) and GIP (glucose-dependent insulinotropic peptide). As a result, an increased amount of active incretins enables the pancreas to secrete insulin in a glucose-dependent manner, thereby assisting in the management of blood glucose levels. A New Drug Application for alogliptin was approved in April 2010 by the Japanese Ministry of Health, Labour and Welfare for the treatment of type 2 diabetes, and the therapy is currently available under the brand name NESINA in this market.

1 2 Next › Last »