Amylin Pharmaceutical POPS 8.9% with 4 Stocks Hitting 52-Week Highs

Amgen’s (NASDAQ:AMGN) license agreement with NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) for royalties from sales of cinacalcet HCl (Sensipar/Mimpara), has been modified by NPS. Under terms of the revised agreement, NPS will receive a one-time $25 million payment in this current month in exchange for its rights to receive royalties under the license agreement that would accrete following December 31, 2018. The amendment also restricts the royalty offset of the royalty advance that NPS received from Amgen in August 2011, to $8 million per quarter with royalties in excess of $8 million paid to NPS for the respective quarter, thereby extending the period for royalty advance repayment. After the repayment of the royalty advance and a 9 percent per annum discount factor on the outstanding balance, Amgen will resume paying NPS all royalties accreted through December 31, 2018. As of June 30, NPS owed Amgen a remainder of $92 million on the royalty advance. Shares closed up 2 percent on the day at $74.37, having been traded between $47.66 and $73.75.