Firm will develop and commercialize drug for postmenopausal osteoporosis and oncology.

Daiichi Sankyo Company gained rights to develop and commercialize Amgen’s denosumab in Japan. The drug is a fully human mAb that targets RANK Ligand, a mediator of cells that break down bone. It is being investigated for the treatment and prevention of a range of bone loss conditions, including osteoporosis and bone metastases.

According to the collaboration and license agreement, Amgen has granted Daiichi Sankyo exclusive rights for denosumab in postmenopausal osteoporosis and oncology with the potential for additional indications. Amgen will receive exclusive worldwide rights to certain Daiichi Sankyo intellectual property to the extent applicable to denosumab.

Daiichi Sankyo will pay Amgen $20 million upfront as well as royalties on sales in Japan. The company will assume all development costs for denosumab in Japan and will pay approximately $150 million of expected worldwide development costs for denosumab through 2009.

In consideration of its intellectual property, Daiichi Sankyo is eligible to receive milestone payments dependent on the approval of denosumab in the EU or Japan, in two indications.

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