Albireo Pharma, Inc. announced that Japan's Ministry of Health, Labor and Welfare (MHLW) has approved the new drug application for elobixibat for the treatment of chronic constipation in Japan. The approval of elobixibat in Japan triggers payments to Albireo subsidiary Elobix AB from EA Pharma Co. Ltd. under the terms of a license agreement and from HealthCare Royalty Partners (HCR), subject to customary closing conditions, under the terms of a royalty monetization agreement announced earlier this year, which together total more than $55 million. Elobixibat is a first-in-class, once-daily, orally available IBAT inhibitor targeted to improve secretion and motility in the large bowel. In clinical trials in Japan, patients treated with elobixibat experienced statistically significant improvement from baseline in the frequency of both spontaneous bowel movements (SBMs) and complete SBMs. Elobixibat is indicated in Japan for use in patients with chronic constipation (excluding constipation caused by organic disease). With the MHLW approval, elobixibat becomes only the second branded product labeled for the treatment of chronic constipation in Japan.