Japanese biotech pays Albireo $135M for local liver disease drug rights

Japanese biotech Jadeite Medicines is paying Boston-based Albireo Pharma Inc. up to $135 million for Japanese rights to Bylvay, the company's recently approved drug for rare liver diseases. Albireo (Nasdaq: ALBO) will receive $15 million up front from Jadeite, plus another $120 million in milestone payments, as well as royalties. Jadeite is undertaking the responsibility of clinical development, regulatory approval and commercialization of Bylvay in Japan. In July, Albireo received approval from…
Source: bizjournals.com Health Care News Headlines - Category: Health Management Authors: Source Type: news