Roche licenses Ipsen's developmental antidiabetic

Swiss drug major Roche says that it has exercised an option, available to it under the terms of a 2003 agreement, to exclusively license and develop French firm Ipsen's patented antidiabetic agent BIM 51077. The drug, which is a glucagon-like peptide analog, has demonstrated good efficacy against diabetes in Phase I and II clinical studies.

Under the terms of the original deal, Roche must pay Ipsen 56.0 million euros ($69.9 million) to license the product worldwide, excluding Japan. Ipsen said that it could receive further payments of up to 170.0 million euros based on the achievement of various developmental and regulatory milestones. The Swiss firm will be fully responsible for all development and manufacture of the product, for which it will also hold any marketing authorizations that are awarded.