Tuesday, December 15, 2009

Amgen Licenses Rights For Diabetes Drug

Thousand Oaks-based Amgen and Colorado-based Array BioPharma announced Monday evening that Amgen is licensing the exclusive worldwide rights to Array's compounds for treating Type 2 diabetes, in a deal worth $60M plus additional contingent payments. The license covers rights to Array's small-molecule glucokinase activator program, which is in Phase 1 clinical trials.