CHADDS FORD, Pa., Jan. 6, 2012/PRNewswire-FirstCall/ -- Endo Pharmaceuticals (Nasdaq: ENDP) announced today it has signed a worldwide license and development agreement with U.S.-based BioDelivery Sciences International (Nasdaq: BDSI) for BEMA Buprenorphine.
BEMA Buprenorphine is a transmucosal form of buprenorphine, a partial mu-opiate receptor agonist, which incorporates a bioerodible mucoadhesive (BEMA) technology. BEMA Buprenorphine is currently in phase III trials for the treatment of moderate to severe chronic pain.
Financial terms of the agreement include an upfront payment of $30 millionto BioDelivery Sciences International, royalties of net sales, and up to approximately $150 millionin milestones contingent upon achievement of pre-defined, late state clinical and regulatory events and achievement of certain sales targets.
"Endo is committed to serving as an integrated solutions provider for the development and commercialization of products focused on the management of pain," said Dave Holveck, president and chief executive officer of Endo Pharmaceuticals. "The addition of BEMA Buprenorphine will broaden Endo's portfolio of pain therapeutics, allowing us to offer an integrated suite of products that currently include Opana ER, Voltaren Gel and Lidoderm, as well as a broad range of generic pain products. We look forward to working closely with BDSI on the development of this important asset."
About Endo
Endo Pharmaceuticals is a U.S.-based, specialty healthcare
solutions company with a diversified business model,
operating in three key business segments - branded
pharmaceuticals, generics and devices and services.
We deliver an innovative suite of complementary products
and services to meet the needs of patients in areas such as
pain management, pelvic health, urology, endocrinology and
oncology. For more information about Endo Pharmaceuticals,
and its wholly owned subsidiaries American Medical Systems
and Qualitest Pharmaceuticals, as well as its affilate
HealthTronics, Inc..
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SOURCE Endo Pharmaceuticals
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