Novo Nordisk in $42 MM Insulin Deal.(Brief Article)(Statistical Data Included)

Chemical Market Reporter, December, 1999

Novo NORDISK and Lyon, France-based Flamel Technologies have entered into a development and licensing agreement for Basulin, Flamel's long-acting basal insulin product for type I and type II diabetes. The deal is worth roughly $42 million. Under the deal, Novo Nordisk is acquiring exclusive worldwide development and marketing rights to Basulin and paying Flamel Technologies up-front licensing fees of $5 million, including $1 million that Flamel Technologies already received earlier this month.

In addition, Novo Nordisk will pay a potential $37 million in milestone payments and future royalties. Novo Nordisk will also fund clinical trials and product development. In return, Flamel Technologies will supply Novo Nordisk with Medusa nanoparticles for Basulin.