EC approves three Takeda diabetes products

Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) and partner Furiex Pharmaceuticals Inc. (NASDAQ:FURX) said the European Commission approved three Type II diabetes products from Takeda. EC approved Vipidia alogliptin in patients who are uncontrolled on existing therapies. EC also approved fixed-dose combination products Vipdomet alogliptin/metformin and Incresync alogliptin/pioglitazone.

Furiex co-developed alogliptin, a dipeptidyl peptidase-4 (DPP-4) inhibitor, with Syrrx Inc., which Takeda acquired in 2005. The European approvals triggered a $10 million milestone payment to Furiex from Takeda. The biotech is also eligible for up to $33 million in global sales milestones, plus EU royalties of 4-8%. Furiex was up $1.31 to $43.65 on Tuesday. ...