Zealand Pharma A/S (NASDAQ: ZEAL) has entered into a global license and development agreement with Novo Nordisk A/S (NYSE: NVO) to commercialize Zegalogue (dasiglucagon) for injection.
FDA approved Zegalogue for severe hypoglycemia in pediatric and adult patients with diabetes aged six and above.
Under the terms of the agreement, Zealand will receive an upfront payment of DKK 25 million and is eligible to receive up to DKK 45 million in near-term development, regulatory, and manufacturing-based milestones.
Zealand is also eligible to receive up to DKK 220 million in sales-based milestones and tiered royalties ranging from high single-digit to low double-digit percentages.
Zealand will be responsible for certain planned regulatory, development, and manufacturing activities to support further development and approval outside the U.S.
Zealand will retain all non-licensed intellectual property rights to the company's other dasiglucagon development programs.
Price Action: ZEAL shares closed at $16.30 on Tuesday. NVO shares are down 1.30% at $102.24 during the premarket session on the last check Wednesday.
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