Abbott, Reata ink deal for chronic kidney disease treatment

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.