Takeda Pharmaceuticals, Amylin Pharmaceuticals, Inc. (AMLN) Terminate $1 Billion Anti-Obesity Pact
12/27/2012 7:46:03 AM
DEERFIELD, Ill., Dec. 24, 2012 /PRNewswire/ -- Takeda Pharmaceutical Company Limited (TSE: 4502) today announced that it has mutually terminated its worldwide agreement with Amylin Pharmaceuticals, Inc., originally signed in October 2009, to co-develop and commercialize compounds for obesity.
The companies announced in August 2011 their decision to discontinue the development of pramlintide/metreleptin, an investigational combination therapy for the treatment of obesity. That joint decision was based on a commercial reassessment of the pramlintide/metreleptin program, which had been in Phase 2 development as a twice-a-day injection formulation. The companies have since determined to formally terminate the partnership at this time. Having greatly benefited from the Amylin team's collective experience and scientific expertise, Takeda will continue to enhance its R&D activities in the area of obesity as well as its other core therapeutic areas to meet the needs of patients.
Takeda's consolidated financial statement for the fiscal 2012 will not be impacted by the termination of this partnership.
About Takeda Pharmaceutical Company Limited
Located in Osaka, Japan, Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to strive towards better health for patients worldwide through leading innovation in medicine. Additional information about Takeda is available through its corporate website, www.takeda.com.
This press release contains forward-looking statements. Forward-looking statements include statements regarding Takeda's plans, outlook, strategies, or results for the future, and other statements that are not descriptions of historical facts. Forward-looking statements may be identified by the use of forward-looking words such as "may," "believe," "will," "expect," "project," "estimate," "should," "anticipate," "plan," "assume," "continue," "seek," "pro forma," "potential," "target," "forecast," "guidance," "outlook" or "intend" or other similar words or expressions of the negative thereof. Forward-looking statements are based on estimates and assumptions made by management that are believed to be reasonable, though they are inherently uncertain and difficult to predict. Investors are cautioned not to unduly rely on such forward-looking statements.
Forward-looking statements involve risks and uncertainties that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements. Some of these risks and uncertainties include, but are not limited to, (1) the economic circumstances surrounding Takeda's business, including general economic conditions in Japan, the United States and worldwide; (2) competitive pressures and developments; (3) applicable laws and regulations; (4) the success or failure of product development programs; (5) actions of regulatory authorities and the timing thereof; (6) changes in exchange rates; (7) claims or concerns regarding the safety or efficacy of marketed products or product candidates in development; and (8) integration activities with acquired companies.
The forward-looking statements contained in this press release speak only as of the date of this press release, and Takeda undertakes no obligation to revise or update any forward-looking statements to reflect new information, future events or circumstances after the date of the forward-looking statement. If Takeda does update or correct one or more of these statements, investors and others should not conclude that Takeda will make additional updates or corrections.
SOURCE Takeda Pharmaceutical Company Limited