PPD will take Belgian firm's drugs through Phase II
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WILMINGTON, N.C. — PPD Inc. (Nasdaq: PPDI) said Tuesday that it has signed a deal with Belgian drug-maker Janssen Pharmaceutica N.V. to take two developmental compounds through Phase II trials and possibly to market.
The Belgian company, part of Johnson & Johnson, has been working on the drugs to treat, respectively, diarrhea-predominant irritable bowel syndrome (IBS-d) and complicated skin and skin structure and respiratory infections.
Under two agreements, PPD has in-licensed the two compounds and will advance them through Phase II development, PPD said. After that, Janssen can resume development and commercialization and pay PPD up to $330 million in clinical and sales milestones and royalties if the drugs go to market.
Alternatively, PPD can continue developing and commercializing either compound if Janssen does not buy it back. If PPD gets both drugs, it will pay Janssen up to $250 million in clinical and sales milestones and royalties on sales, the company said in an announcement.
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