Neurocrine Biosciences, Inc. announced that its collaboration partner, Mitsubishi Tanabe Pharma Corporation (MTPC), obtained regulatory approval of DYSVAL® capsules 40 mg (valbenazine) for the treatment of tardive dyskinesia from the Japanese Ministry of Health, Labour and Welfare.
In March 2015, Neurocrine Biosciences entered into a collaboration and license agreement with MTPC for the development and commercialization of valbenazine capsules for movement disorders in Japan and other select Asian markets. Under the terms of the agreement, MTPC is responsible for all development, manufacturing and commercialization costs of valbenazine in such markets. Neurocrine Biosciences would be entitled to receive royalties at tiered percentage rates on MTPC's future net sales of valbenazine in Japan and other select Asian markets for the longer of ten years or the life of the related patent rights.