AMAG Pharmaceuticals, Inc. (AMAG), Takeda Pharmaceutical Co. Ltd. (TKDG.DE) Gets European Approval, $15 Million Milestone Payment
6/25/2012 6:38:22 AM
Two years after its approval by the FDA, ferumoxytol, a therapy for adult patients with chronic kidney disease made by AMAG Pharmaceuticals, Inc. (Nasdaq: AMAG), has received marketing authorization by the European Commission. The marketing authorization triggers a $15 million milestone payment to AMAG from Takeda Pharmaceutical Company Limited, AMAG’s partner in Europe, which plans to launch ferumoxytol in Europe under the brand name Rienso this year. The first commercial sale of Rienso in Europe will trigger another $15 million milestone payment to AMAG, and the company will also get tiered, double-digit royalties on sales of Rienso in the licensed territories. The Lexington company said in a statement that the drug, an intravenous iron therapy used to treat iron deficiency anemia, was approved for the same indication in the U.S. under the brand name, Feraheme, in June 2009.