** Shares of drug developer Lexicon Pharmaceuticals LXRX.O jump 108% to 72 cents premarket
** LXRX says it has entered into an agreement with Novo Nordisk NOVOb.CO to license its non-incretin based experimental drug for obesity and associated metabolic disorders
** Lexicon will be eligible to receive $1 billion in upfront and potential development, regulatory and sales milestone payments
** Novo Nordisk will hold an exclusive, worldwide license to develop, manufacture and commercialize the drug candidate, LX9851
** LXRX is eligible to receive tiered royalties on net sales of LX9851
** Up to last close, LXRX stock down 84% in the past 12 months
(Reporting by Padmanabhan Ananthan)
((Padmanabhan.Ananthan@thomsonreuters.com;))
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