AMAG, Takeda in strategic collaboration
AMAG Pharmaceuticals Inc. of Lexington and Japan's Takeda Pharmaceutical Co. Ltd. today jointly announced that the companies have entered into a license, development, and commercialization agreement related to the drug Feraheme, which is approved in the United States for the treatment of iron deficiency anemia in adult patients with chronic kidney disease.
According to a press release, Takeda receives an exclusive license to Feraheme for all therapeutic applications in five regions, including Europe, Canada, Turkey, the Commonwealth of Independent States, and Asia Pacific countries, excluding Japan, China, and Taiwan; and AMAG receives a $60 million upfront payment and is eligible to receive up to $220 million in development and commercial milestones.
For Takeda, the deal seemingly strengthens its influence in Massachusetts and the local biotech market. In 2008, Takeda bought Millennium Pharmaceuticals Inc. of Cambridge for $8.8 billion. In 2008, Takeda and Alnylam Pharmaceuticals Inc. of Cambridge signed a $150 million drug-licensing deal.
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