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MARKET INTEL by PharmaCompass
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By PharmaCompass
2019-07-11
Impressions: 115 Article
Johnson & Johnson’s Janssen unit has handed back rights to a drug being developed by Korean drugmaker Hanmi Pharmaceutical, codenamed HM12525A.
Janssen licensed exclusive global rights (excluding Korea and China) to the experimental drug in November 2015 in a deal valued at US$ 915 million. The deal included a US$ 105 million non-refundable upfront payment. The remaining was in the form of potential milestone payments.
The drug is a novel biologic GLP-1/Glucagon dual receptor agonist being developed for weight loss and blood glucose control in certain patients with diabetes.
According to Hanmi, while two Phase II trials carried out by Janssen achieved the primary target of weight reduction, “its blood glucose control in obese patients accompanying diabetes fell short of Janssen’s internal standards”.
An official at the Korean drug company was quoted by the Korea Biomedical Review as saying: “In Phase II studies, the treatment showed excellent efficacy in reducing weight in obese people with or without diabetes. We will have an internal review on the matter and confirm our plan for development as soon as possible. We are aware that it is not easy to develop a new drug but will not stop challenging to commercialize Korea’s first successful new drug in the overseas market.”
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