Tuesday, December 13, 2011
Mochida Pharmaceutical has entered into a license agreement with Merck, through a subsidiary, relating to a portfolio of drug candidates invented by Mochida for the potential treatment for type-2 diabetes. Under the terms of the agreement, Merck has been granted a worldwide exclusive license to develop, manufacture, use and sell the potential drug candidates. Mochida will receive from Merck an upfront payment and potential development milestone payments, as well as royalties on the sales of any products derived from the collaboration. Mochida has retained an option to co-develop and co-market any products in Japan.