Amgen, Daiichi Sankyo Ink Denosumab Agreement

Amgen and Japanese drugmaker Daiichi Sankyo announced a collaboration and license agreement for the development and commercialization of denosumab in Japan.

Denosumab is being investigated for its potential to treat and prevent a broad range of bone loss conditions including osteoporosis and bone metastases, Amgen and Daiichi Sankyo said.

Under the terms of the agreement, Amgen said it has granted Daiichi Sankyo exclusive rights to develop and commercialize denosumab in Japan for postmenopausal osteoporosis and oncology, with the potential for additional indications.

Amgen will receive exclusive worldwide rights to certain Daiichi Sankyo intellectual property to the extent applicable to denosumab, the companies added.

According to the companies, the financial terms include an upfront payment to Amgen of $20 million. In addition, Daiichi Sankyo will assume all development costs for denosumab in Japan and will pay approximately $150 million of expected worldwide development costs for the drug through 2009, the companies added.