Portola partners andexanet alfa in Japan

Portola Pharmaceuticals Inc. (NASDAQ:PTLA) partnered with Bristol-Myers Squibb Co. (NYSE:BMY) and Pfizer Inc. (NYSE: PFE) to develop and commercialize Portola's andexanet alfa ( PRT064445) in Japan. The recombinant protein reverses the anticoagulant activity of Factor Xa inhibitors including Eliquis apixaban from BMS and Pfizer.

The pharmas will be responsible for development and commercialization of andexanet alfa in Japan. Portola will receive $15 million up front and is eligible for $90 million in milestones, plus double-digit royalties on andexanet alfa net sales in Japan. ...