Neurocrine Biosciences announced that its collaboration partner, Mitsubishi Tanabe Pharma Corporation (MTPC), obtained regulatory approval of Dysval capsules 40 mg (valbenazine) for the treatment of tardive dyskinesia from the Japanese Ministry of Health, Labour and Welfare on March 28, 2022.

In March 2015, Neurocrine Biosciences entered into a collaboration and license agreement with MTPC for the development and commercialization of valbenazine capsules for movement disorders in Japan and other select Asian markets. Under the terms of the agreement, MTPC is responsible for all development, manufacturing and commercialization costs of valbenazine in such markets. Neurocrine Biosciences would be entitled to receive royalties at tiered percentage rates on MTPC's future net sales of valbenazine in Japan and other select Asian markets for the longer of ten years or the life of the related patent rights.

Tardive dyskinesia (TD) is a movement disorder that is characterized by uncontrollable, abnormal and repetitive movements of the face, torso and/or other body parts, which may be disruptive and negatively impact patients. The condition is associated with taking certain kinds of mental health medicines (like antipsychotics) that help control dopamine receptors in the brain. Antipsychotics commonly prescribed to treat mental illnesses such as depression, bipolar disorder, schizophrenia and schizoaffective disorder, and certain medications to treat upset stomach, nausea and vomiting may also cause TD. In patients with TD, these treatments are thought to result in irregular dopamine signaling in a region of the brain that controls movement. The symptoms of TD can be severe and are often persistent and irreversible. TD is estimated to affect approximately 600,000 people in the U.S.