Ferring Pharmaceuticals, Inc. Acquires Licensing Rights for Elobixibat from Albireo
7/3/2012 9:38:07 AM
SAINT-PREX, Switzerland & GOTHENBURG, Sweden--(BUSINESS WIRE)--Ferring Pharmaceuticals (Ferring) and Albireo AB (Albireo) announced today that they have signed a license agreement under which Ferring has rights to develop and commercialise elobixibat, a first-in-class compound for chronic idiopathic constipation (CIC) and irritable bowel syndrome with constipation (IBS-C). The agreement gives Ferring rights to market the product globally with the exception of Japan and a small number of Asian markets. In consideration of the rights, Ferring will pay Albireo a significant upfront licensing fee, milestones and tiered double-digit royalties. Ferring will also be responsible for development costs in its territory.