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news.NPS Pharmaceuticals has made changes to its license agreement with Amgen for royalties from sales of cinacalcet HCl (Sensipar/Mimpara).
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According to the revised agreement, NPS will earn a one-time $25m payment in July 2012 in exchange for its rights to receive royalties under the license agreement that are earned after 31 December 2018.
The amendment extends the royalty advance repayment period by limiting the royalty offset of the royalty advance that NPS received from Amgen in August 2011 to $8m per quarter with royalties in excess of $8m paid to NPS for the respective quarter.
Amgen will recommence paying NPS all royalties earned through 31 December 2018 after the repayment of the royalty advance and a 9% per annum discount factor on the outstanding balance.
NPS Pharmaceuticals is an outsourcing-based development company focused on bringing biopharmaceuticals to patients with rare disorders.