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In Brief: Amgen/NPS Pharmaceuticals

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Executive Summary

Amgen/NPS Pharmaceuticals: Sign binding letter of intent to collaborate in developing and commercializing NPS' Norcalcin (NPS R-568) and other proprietary calcium receptor agonists for treatment of hyperparathyroidism. Amgen will have exclusive worldwide rights (excluding Japan, China, Korea and Taiwan, covered by NPS' corporate partnership with Kirin) to develop and sell Norcalcin. It will pay NPS initial license fee of $10 mil., milestone payments of up to $26 mil. and royalties on sales, and purchase 1 mil. shares for $7.5 mil. Norcalcin is currently in Phase I/II clinical trials...

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