Takeda is writing off its three-year-old $1.1 billion pact with Amylin to develop new obesity drugs. The two companies decided to mutually terminate the pact 17 months after they scrapped a midstage study for their pramlintide/metreleptin combo.
"Having greatly benefited from the Amylin team's collective experience and scientific expertise, Takeda will continue to enhance its R&D activities in the area of obesity as well as its other core therapeutic areas to meet the needs of patients," the companies said in a polite joint statement issued on a quiet Christmas Eve.
The biopharma world has changed considerably since Takeda agreed to pay Amylin $75 million upfront to go after the obesity market. Two new drugs, Arena's ($ARNA) Belviq and Vivus's ($VVUS) Qsymia, have since been approved, with Orexigen ($OREX) looking to catch up soon. Amylin was sold to Bristol-Myers Squibb ($BMY), which has other priorities in the pipeline. And there are other experimental drugs in the biotech pipeline whichthat offer considerable promise to dramatically lower weight, a big need in the medical field.
- here's the press release