SAN FRANCISCO (Thomson Financial) - Durect Corp. said late Monday Endo
Pharmaceuticals plans to return the rights to Chronogesic, which Endo licensed
from Durect for the U.S. and Canada.
Chronogesic is a product candidate consisting of a sufentanil-containing
implantable device intended for the treatment of moderate-to-severe chronic
pain.
As a result, the development, commercialization and supply license agreement
between the companies entered into in November 2002 will terminate, Durect said.
The return of the Chronogesic rights will not affect the companies
collaboration related to a sufentanil transdermal patch licensed by Endo for the
U.S. and Canada.
Shares of Durect closed at $2.25, while Endo shares closed at $24.39.
Gabriel Madway
gm
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|