Japan's Health Ministry Approves KORSUVA by Cara Therapeutics' Partner; Company Earns $1.5M Milestone Payment
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Cara Therapeutics, Inc. (NASDAQ:CARA) announced that its licensing partner Maruishi Pharmaceutical Co., Ltd. received approval from Japan's Ministry of Health for KORSUVA IV Injection Syringe for the treatment of pruritus in hemodialysis patients. As a result, Cara earned a $1.5 million milestone payment.
September 25, 2023 | 11:06 am
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Cara Therapeutics earned a $1.5 million milestone payment following the approval of KORSUVA by its licensing partner in Japan.
The approval of KORSUVA in Japan is a positive development for Cara Therapeutics, as it not only validates the efficacy of the drug but also provides the company with a $1.5 million milestone payment. This could potentially boost the company's revenues and profitability in the short term.
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