Pharmaceutical Product Development (Nasdaq: PPDI) will receive a $3 million milestone payment now that its Japanese partner has filed a new diabetes drug application in Japan.
is partnered with Takeda Pharmaceutical for a type 2 diabtest treatment called alogliptin.
“This milestone supports our compound partnering strategy and commitment to leveraging our clinical expertise to drive long-term shareholder value,” said PPD Chief Executive Officer Fred Eshelman.
Under PPD’s agreement with Takeda, submission of the NDA in Japan triggered a $3 million milestone payment to PPD.
