Zealand Pharma sells its rights to Takeda's rusfertide for $100 million ahead of FDA decision

Zealand Pharma has agreed to sell its economic interest in rusfertide, a peptide drug being developed by Takeda and Protagonist Therapeutics, for $100 million.

The transaction comes as the FDA reviews the drug, with a decision expected in the third quarter. A phase 3 trial reported a 76.9% response rate in patients with polycythemia vera.

Takeda previously paid Protagonist $300 million upfront for the rights in 2024. Zealand’s involvement dates back to a 2012 collaboration with Protagonist on disulfide-rich peptides, which gave it a stake in rusfertide after the partnership ended in 2014.

The sale provides Zealand with immediate cash while leaving Takeda and Protagonist to pursue regulatory approval and potential market launch.