Rasagiline tablets, developed by Teva, are approved in more than 40 countries for the treatment of PD.
Teva received its first approval in 2005 in Israel and Europe and is currently working towards the acquisition of marketing approval of Rasagiline in Japan.
As part of the deal, Takeda will develop rasagiline tablets for the Japanese market and submit a new drug application (NDA) for registration of the product in Japan.
Rasagiline is a monoamine oxidase B (MAO-B) inhibitor which is presumed to act by increasing available synaptic dopamine in the brain which might improve the motor symptoms characteristic of PD.
The companies have entered into an agreement in December 2013, to develop glatiramer acetate (active ingredient) for the treatment of multiple sclerosis.
The two firms have now entered into a further agreement in the CNS category in order to meet the high unmet need in the treatment options for PD in Japan.
Teva president of Global R&D and chief scientific officer Michael Hayden said the agreement represents the company’s continued commitment to introducing its new medicines to patients in Japan.
"Rasagiline has an established safety and efficacy profile and is currently approved for use in over 40 countries, and will be an important product for Japan, where the number of available treatment options for Parkinson’s disease remains limited," Hayden said.