PPD dermatology, metabolic, genitourinary news
PPD will spin out its compound partnering business into a separate public company to focus on its CRO business. PPD will seed the newco with $100 million in cash. The newco will have rights to royalties and sales-based milestones from PPD's collaboration with Johnson & Johnson (NYSE:JNJ, New Brunswick, N.J.) for Priligy dapoxetine, which is marketed outside the U.S. for premature ejaculation (PE); and rights to milestones from Takeda Pharmaceutical Co. Ltd. (Tokyo:4502, Osaka, Japan) on its fixed-dose combination of Actos pioglitazone and alogliptin to treat Type II diabetes, which is in registration.
The newco also will have PPD's dermatology program gained from the April acquisition of Magen BioSciences Inc.; and a statin compound in Phase I testing for dyslipidemia that was licensed from Ranbaxy Laboratories Ltd. (NSE:RANBAXY; BSE:500359, Gurgaon, India) in 2007. PPD plans to in-license two additional compounds in 4Q09, which also would be retained by the newco (see BioCentury, March 5, 2007, & April 13, 2009). ...