NPS Pharmaceuticals Stages A Second Act
Five years ago, NPS Pharmaceuticals received an FDA "approvable" letter for its osteoporosis candidate Preos (parathyroid hormone), a regulatory action that sent the company into a tailspin of cost cuts and downsizing. Now the Parsippany, NJ-based specialty pharma is gearing up for a second shot at the commercial market. Unlike in 2006, when NPS was focused on therapies for big primary care indications, however, the company believes success will come from a focus on niche gastrointestinal and endocrine disorders.
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In a deal that moves a $50 million equity stake to Takeda, NPS reacquires ex-U.S. rights to teduglutide and PTH 1-84, enabling the New Jersey firm to position itself as a worldwide orphan drug specialist. Takeda also can earn a $30 million one-time, sales-dependent milestone under the deal.
NPS Pharmaceuticals will price the short bowel syndrome treatment at $295,000 per year – in line with the cost of other drugs in the ultra-orphan spectrum and higher than some industry observers expected – but said the addressable patient population is lower than it previously estimated.
NPS Pharmaceuticals will launch Gattex for the long-term treatment of short bowel syndrome, an ultra-orphan indication, with an ultra-orphan price tag to match: $295,000 per year.