Novo Nordisk: licence agreement with Zealand Pharma
(CercleFinance.com) - Zealand Pharma's shares are up over 5% on the Copenhagen Stock Exchange on Wednesday following the signing of a licensing agreement with Novo Nordisk for the development of its Zegalogue, a treatment for hypoglycaemic episodes in diabetic patients.
At around noon, the biotech company's shares were significantly outperforming the OMXC25 index (-0.1% at the same time). Meanwhile, Novo Nordisk shares were pretty flat.
Under the terms of the agreement, Zealand will receive an upfront payment of 25 million Danish kronor (about 3 million euros), which could be followed by almost double this (45 million Danish kronor) in milestone payments.
The company could then receive 220 million Danish kronor if certain commercial milestones are reached, as well as royalties of around 10% on future drug sales.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
At around noon, the biotech company's shares were significantly outperforming the OMXC25 index (-0.1% at the same time). Meanwhile, Novo Nordisk shares were pretty flat.
Under the terms of the agreement, Zealand will receive an upfront payment of 25 million Danish kronor (about 3 million euros), which could be followed by almost double this (45 million Danish kronor) in milestone payments.
The company could then receive 220 million Danish kronor if certain commercial milestones are reached, as well as royalties of around 10% on future drug sales.
Copyright (c) 2022 CercleFinance.com. All rights reserved.