Roche will license, develop, and market Ipsen’s antidiabetic drug BIM 51077. Roche has been granted worldwide rights, except in Japan, where these rights are shared with Teijin, and in France where Ipsen may elect to retain co-marketing rights.

The exercise of this option by Roche has triggered a payment to Ipsen of Euro56 million. Roche will also make a payment of Euro3 million after the closing of Ipsen’s 2006 financial statements.

Ipsen could receive total further payments of up to Euro170 million in milestone payments. Roche will fund 100% of the remaining development of BIM 51077, except with respect to Japan where expenses will be shared 50% between Roche and Teijin.