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ABBOTT PARK, Ill. Drug makers Abbott and Reata Pharmaceuticals have signed an agreement concerning a drug for chronic kidney disease.
The two companies said Thursday that they would develop and commercialize bardoxolone methyl, currently in mid-stage clinical trials.
Under the agreement, Abbott will have exclusive rights to develop and commercialize the drug outside the United States, except for some Asian markets, and obtain a minority equity investment in Reata, which will receive $450 million. Reata also will receive additional milestone payments and royalties on future sales.