February 16, 2018 / 10:33 PM / 4 months ago

BRIEF-Intercept Pharma Says Sumitomo Dainippon Pharma Enters Into Amendment To Certain License Agreement

Feb 16 (Reuters) - Sumitomo Dainippon Pharma Co Ltd :

* INTERCEPT PHARMA SAYS ON FEB 13, CO, SUMITOMO DAINIPPON PHARMA ENTERED INTO AMENDMENT TO CERTAIN LICENSE AGREEMENT DATED AS OF MARCH 29, 2011

* INTERCEPT PHARMACEUTICALS INC - UNDER AMENDMENT, SUMITOMO DAINIPPON AGREED TO RETURN RIGHTS TO DEVELOP AND COMMERCIALIZE OCA IN JAPAN AND KOREA

* INTERCEPT PHARMA - AGREED TO FOREGO ANY FURTHER MILESTONE OR ROYALTY PAYMENTS RELATING TO DEVELOPMENT AND COMMERCIALIZATION OF OCA IN JAPAN AND KOREA

* INTERCEPT PHARMA - SUMITOMO DAINIPPON WAIVED RIGHTS TO COUNTRY OPTION, PARTIES ADJUSTED CERTAIN MILESTONE PAYMENT OBLIGATIONS REGARDING OCA

* INTERCEPT PHARMA - SUMITOMO MAY CHOOSE TO PAY CO MILESTONE PAYMENT OR TERMINATE DEAL IF CERTAIN CLINICAL MILESTONES IN CHINA NOT MET BY DEC 31, 2020 Source text: (bit.ly/2octk8w) Further company coverage:

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