By Michael Calia
Acura Pharmaceuticals Inc. (ACUR) on Thursday said it reached a
deal to terminate Pfizer Inc.'s (PFE) license for its Aversion
technology.
Acura said it regained the product rights to the Oxecta pain
drug, and it would pay Pfizer $2 million under the termination
agreement.
The company is evaluating strategic options for the products,
including a potential relaunch and a new brand name with another
pharmaceutical company, Acura Chief Executive Bob Jones said.
Acura and Pfizer agreed in July to expand commercialization of
Oxecta to health-care providers in the fourth quarter of 2013.
Acura had exclusively licensed the Aversion technology to Pfizer
in the U.S., Canada and Mexico for use in Oxecta, an
immediate-release oxycodone with a tamper-resistant design that
inhibits recreational use.
Acura had received tiered royalties ranging from 5% to 25% on
net sales of Oxecta.
Shares of Acura were inactive premarket. The stock, which closed
at $1.37 Wednesday, is down 18% so far this year.
Write to Michael Calia at michael.calia@wsj.com
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