NPS Sells Assets Related to mGluR Collaboration to AstraZeneca for $30 Million to Support Late-Stage Product Development

    BEDMINSTER, N.J., Oct. 9 /CNW/ -- NPS Pharmaceuticals, Inc. (Nasdaq:  
NPSP) announced today that by mutual agreement it has ended its collaboration
with AstraZeneca to discover and develop drugs targeting metabotropic
glutamate receptors (mGluRs).  AstraZeneca has agreed to pay NPS $30 million
to acquire NPS's assets related to the companies' research collaboration to
discover and develop the compounds.  NPS intends to use the proceeds to
support further development of its late-stage product pipeline.
    The two companies have been collaborating since March 2001 to discover
and develop compounds that are active at these receptors and have identified
several drug candidates currently in preclinical and Phase 1 studies.  Under
the terms of the agreement, NPS will no longer provide research support for or
maintain interests in any drugs discovered, developed and commercialized under
this program.
    Dr. Tony Coles, president and CEO of NPS, stated, "Monetizing our
interests in the mGluR program at this time enables us to create greater
near-term value for NPS shareholders.  This strategic move creates investment
flexibility for NPS and enables us to use the monies from this deal, the
previously announced Nycomed GATTEX deal and the approximately $10 million in
savings over the next two years from this transaction to support the further
development of our late-stage pipeline products, PREOS and GATTEX, in
specialty indications.  We have had a very productive collaboration with
AstraZeneca and wish them continued success with this program."
    About NPS Pharmaceuticals
    NPS discovers and develops small molecules and recombinant proteins as
drugs, primarily for the treatment of metabolic, bone and mineral, and central
nervous system disorders.  The company has drug candidates in various stages
of clinical development backed by a strong discovery research effort.
Additional information is available on the company's website,
    Note: Statements made in this press release, which are not historical in
nature, constitute forward-looking statements for purposes of the safe harbor
provided by the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and beliefs and are
subject to a number of factors and uncertainties that could cause actual
results to differ materially from those described in the forward-looking
statements. All information in this press release is as of October 9, 2007 and
we undertake no duty to update this information. A more complete description
of these risks can be found in our filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the year-ended
December 31, 2006 and our Quarterly Report on Form 10-Q for the quarter-ended
June 30, 2007.

For further information:

For further information: Brandi Simpson of NPS Pharmaceuticals, Inc., 
+1-908-450-5616 Web Site:

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