Pharmaceutical Companies Sign $180 Million Deal (ENDP, BDSI)
Endo Pharmaceuticals Holdings Inc. (NASDAQ: ENDP has signed a deal with BioDelivery Sciences International Inc. (NASDAQ: BDSI) under which Endo will license and pay royalties on a pain treatment drug and delivery system developed by BioDelivery. The agreement will be…
Endo Pharmaceuticals Holdings Inc. (NASDAQ: ENDP has signed a deal with BioDelivery Sciences International Inc. (NASDAQ: BDSI) under which Endo will license and pay royalties on a pain treatment drug and delivery system developed by BioDelivery. The agreement will be worth up to $180 million to BioDelivery.
The deal includes an upfront payment of $30 million to BioDelivery and a further $150 million as certain milestones are reached. The licensed drug, known as BEMA Buprenorphine, is currently in Phase 3 trials for the treatment of moderate to severe chronic pain.
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