Opko Health inks deal to bring new drug to Japan, generate more than $100M in revenue

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Opko Health Inc. has entered into an exclusive agreement to bring its latest drug to Japan.

Rayaldee, a drug aimed at treating a thyroid condition the Miami biotech firm released in November, will be sold in the Asian nation by Japan Tobacco Inc., per a deal with Opko subsidiary EirGen Pharma, announced Thursday.

The agreement requires Japan Tobacco to make an upfront payment of $6 million to Opko (NASDAQ: OPK) in addition to another $6 million when Opko begins the phase 2 study of Rayaldee in U.S. dialysis patients. The drug targets a specific form of secondary hyperparathyroidism in patients with chronic kidney disease and/or vitamin D deficiency.