Neurocrine Inks Deal with Abbott
Abbott Laboratories will pay Neurocrine Biosciences (NASDAQ:NBIX) of San Diego up to $575 million for exclusive worldwide rights to develop and commercialize Neurocrine’s experimental oral drug for endometriosis, a painful condition in which uterine tissue grows outside the womb. Neurocrine will receive $75 million upfront, up to $500 million in milestone payments, and royalty payments on product sales. Neurocrine has completed mid-stage trials of the drug, called elagolix. The companies expect to begin late-stage trials this year.