CV Therapeutics will pocket a $7 million milestone payment from Astellas on the filing of its new drug application for regadenoson. CV also saw its stock price rise on the news that it has filed an NDA for the drug, which is intended for use during heart stress tests. Astellas will owe another $12 million if the FDA approves the drug. One analyst pegged potential royalty payments to CV of $35 million in 2009.
"We are very pleased to have submitted an NDA for regadenoson, which, if approved in 2008, would represent the second innovative cardiovascular product CV Therapeutics will have brought to market in a two-year period," said Louis G. Lange, M.D., Ph.D., chairman and chief executive officer of CV Therapeutics.
- check out the AP report