Biotech Values

[DewDiligence]

DRRX +41% on collaboration with NVS:

https://finance.yahoo.com/news/durect-sandoz-signed-293-million-110000339.html

DURECT Corporation today announced a development and commercialization agreement with Sandoz AG, a division of Novartis, to develop and market in the United States DURECT's POSIMIR (SABER-Bupivacaine), an investigational locally-acting, non-opioid analgesic intended to provide up to three days of continuous pain relief after surgery.

…Under the terms of the agreement, Sandoz will make an upfront payment to DURECT of $20 million, with the potential for up to an additional $43 million in development and regulatory milestones, up to an additional $230 million in sales based milestones, as well as a tiered double digit royalty on product sales in the United States.

DURECT will remain responsible for the completion of the ongoing PERSIST Phase 3 clinical trial for POSIMIR as well as FDA interactions through approval.