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Zealand Pharma, Novo Nordisk Ink Licensing Pact For Drug To Lower Blood Sugar Levels

  • 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.

  • Related: Zealand Pharma's Dasiglucagon Aces Late-Stage Study In Pediatric Patients, Shares Move Higher.

  • 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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