Opko Health Inc. (NASDAQ:OPK) reported that its subsidiary unit EirGen Pharma has finalized an exclusive deal with Japan Tobacco Inc. for the commercialization and development in Japan of RAYALDEE® for the cure of secondary hyperparathyroidism in dialysis and non-dialysis people with chronic kidney disease.
Under the terms of the deal, Japan Tobacco will make an upfront payment to Opko Health of $6 million with additional $6 million sum to be paid upon initiation of OPKO’s intended Phase 2 trial of RAYALDEE in U.S. dialysis people. In addition, Opko Health will be eligible to get up to an additional $31 million in regulatory and development milestones and $75 million in sales related milestones.
Japan Tobacco will also compensate Opko tiered royalties on net product revenue. It will be responsible for regulatory approvals and commercial plans related to RAYALDEE in Japan. As per Japan Tobacco, a projected 13.3 million people in Japan suffer from CKD and over 300,000 are getting dialysis, with both patient populations rising as a result of the aging population.
Phillip Frost, M.D., the CEO and Chairman of Opko, expressed that Japan Tobacco, together with its subsidiary unit Torii Pharmaceuticals, has a growing and strong franchise in hemodialysis and renal ailments, which makes Japan Tobacco an ideal associate to bring RAYALDEE to patients and physicians in Japan.
They consider Torii and JT’s unique marketing activities and their set network with Japanese nephrologists will boost adoption of RAYALDEE in this major market. They are confident this deal will considerably expand access to the vital clinical advantages of RAYALDEE for Japanese people with CKD.
RAYALDEE marks as an extended-release prohormone of calcitriol, which the active version of vitamin D3. It is indicated for the cure of SHPT in adults with stage 4 or 3 CKD and vitamin D insufficiency. RAYALDEE is not indicated in people with stage 5 CKD or last stage renal ailment on dialysis.
This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.