PPD, Inc. (PPDI) Announces Agreement with Janssen Pharmaceutica to Commercialize 2 Phase II-Ready Therapeutic Compounds
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PPD, Inc. (Nasdaq: PPDI) has entered an agreement with Janssen Pharmaceutica N.V. to develop and commercialize two Phase II-ready therapeutic compounds, one to treat diarrhea-predominant irritable bowel syndrome (IBS-d) and the other to treat complicated skin and skin structure and respiratory infections.
Under two agreements, PPD in-licensed the two assets and will advance the compounds through Phase II development. At the completion of Phase II, Janssen will have the option to resume development and commercialization of each compound. In exchange, PPD will receive up to $330 million USD in clinical and sales milestones and royalties on sales of the compounds if approved for marketing. If Janssen does not buy back a program, PPD will have the option to continue developing and commercializing the compound for that program; and Janssen will receive up to $250 million USD in clinical and sales milestones and royalties on sales of the compounds if approved for marketing.
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