DOW JONES NEWSWIRES Johnson & Johnson's (JNJ) Alza Corp. and Janssen Pharmaceutica N.V. units have agreed to transfer worldwide rights for the premature ejaculation treatment Priligy to drug developer Furiex Pharmaceuticals Inc. (FURX). Separately, Furiex said it will license to Menarini Group rights to commercialize Priligy in Europe, most of Asia, Africa, Latin America and the Middle East. Furiex will retain full development and commercialization rights in the U.S., Japan and Canada. Under the agreement with Menarini, Furiex will be eligible to receive a $15 million payment upon closing, up to $20 million in regulatory and launch milestones and up to $40 million in sales-based milestones, plus tiered royalties on product sales ranging from the mid-teens to mid-twenties on a percentage basis. Priligy is currently marketed by Janssen for the treatment of premature ejaculation in 15 countries in Europe, Asia and Latin America and is approved in 43 countries worldwide. Janssen will continue to manufacture and manage certain clinical and regulatory activities related to Priligy for a defined period after the closing date of its agreement with Furiex. Shares closed at $14.23 Monday and were halted after hours. The stock is off 15% over the past three months. -By Nathalie … Continue reading →

MORRISVILLE, N.C. & FLORENCE, ITALY--(BUSINESS WIRE)-- Furiex Pharmaceuticals, Inc. (NASDAQ: FURX - News) and Menarini Group today announced that they have entered into a license agreement by which Furiex will license to Menarini rights to commercialize Priligy in Europe, most of Asia, Africa, Latin America and the Middle East. Furiex will retain full development and commercialization rights in the United States, Japan and Canada. Currently, Priligy is marketed for on-demand treatment of premature ejaculation in 15 countries in Europe, Asia and Latin America, while it is approved for that indication in 43 countries worldwide. Under the terms of the agreement, Furiex will be eligible to receive a $15 million payment upon closing, up to $20 million in regulatory and launch milestones and up to $40 million in sales-based milestones, plus tiered royalties on product sales ranging from mid-teens to mid-twenties in percentage terms. Menarini will assume responsibility for commercialization activities in the licensed territories and will fund ongoing clinical trials. June Almenoff, M.D., Ph.D., president and chief medical officer of Furiex, stated, We are extremely pleased to partner with Menarini and are confident that our experience and skills, coupled with the global presence and pharmaceutical experience of Menarini, should expand … Continue reading →

MORRISVILLE, N.C.--(BUSINESS WIRE)-- Furiex Pharmaceuticals, Inc. (NASDAQ: FURX - News) announced that it has entered into an agreement with ALZA Corporation and Janssen Pharmaceutica, N.V. whereby ALZA and Janssen will transfer worldwide rights for Priligy to Furiex. Currently Priligy is marketed by Janssen for on-demand treatment of premature ejaculation in 15 countries in Europe, Asia and Latin America, while it is approved for that indication in 43 countries worldwide. To ensure a smooth transition, Janssen will continue to manufacture and manage certain clinical and regulatory activities with respect to Priligy for a pre-defined period after the closing date of the agreement. Janssen will continue to make Priligy available to patients until the Marketing Authorizations are transferred, at which time commercialization of the product will transition to Furiex or its licensee. Priligy is the only treatment for premature ejaculation that has received regulatory approval, and we appreciate Janssens commitment for a smooth transition so that patients can continue to receive this important medicine, said June Almenoff, M.D., Ph.D., president and chief medical officer of Furiex. Under the agreement, Janssen will transfer to Furiex registration and commercialization activities for Priligy worldwide. Janssen will remain the Marketing Authorization Holder for Priligy until Marketing … Continue reading →