Monday, June 19, 2017 7:07:08 AM
Today : Monday 19 June 2017
CUPERTINO, Calif., June 19, 2017 /PRNewswire/ -- DURECT Corporation (Nasdaq: DRRX) today announced that the previously disclosed development and commercialization agreement with Sandoz AG, a division of Novartis (NYSE: NVS), 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, has cleared review under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 and has become effective.
Under the terms of the agreement, Sandoz has made 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 remains responsible for the completion of the ongoing PERSIST Phase 3 clinical trial for POSIMIR as well as FDA interactions through approval.
"We are pleased to be collaborating on POSIMIR with Sandoz given their strong hospital presence in the U.S. and their strong record of commercializing innovative and value-added products that serve unmet medical needs," said James E. Brown, President and CEO of DURECT Corporation.
Sandoz is a global leader in driving sustainable access to high-quality healthcare. Sandoz's differentiated product portfolio includes a range of state-of-the-art technologies, formulations and devices. In the U.S., Sandoz Inc. has a dedicated hospital sales and marketing organization, with expertise and relationships, which will be employed to deliver POSIMIR to the market.
Recent DRRX News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/11/2024 04:53:49 PM
- DURECT Corporation to Present at the H.C. Wainwright Global Investment Conference • PR Newswire (US) • 09/04/2024 08:30:00 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 08/26/2024 04:15:12 AM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 08/14/2024 09:01:43 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/13/2024 08:15:12 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 08/12/2024 08:10:03 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 08/12/2024 08:05:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/06/2024 05:03:36 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 08/02/2024 08:30:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 08:44:54 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/30/2024 08:30:09 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/21/2024 08:35:08 PM
- DURECT Corporation Receives FDA Breakthrough Therapy Designation for Larsucosterol in Alcohol-Associated Hepatitis • PR Newswire (US) • 05/21/2024 12:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/14/2024 08:03:39 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/13/2024 08:17:26 PM
- DURECT Corporation Reports First Quarter 2024 Financial Results and Business Update • PR Newswire (US) • 05/13/2024 08:05:00 PM
- DURECT Corporation to Announce First Quarter 2024 Financial Results and Provide a Business Update • PR Newswire (US) • 05/07/2024 08:30:00 PM
- DURECT Corporation Announces Late-Breaking Oral Presentation at the EASL Congress 2024 to Discuss AHFIRM Phase 2b Data in Alcohol-Associated Hepatitis • PR Newswire (US) • 04/30/2024 11:00:00 AM
- DURECT Corporation Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update • PR Newswire (US) • 03/27/2024 08:01:00 PM
- DURECT Corporation to Announce Fourth Quarter and Full Year 2023 Financial Results and Provide a Business Update • PR Newswire (US) • 03/20/2024 08:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/04/2024 04:37:57 PM
- DURECT and Charles River Laboratories Enter into Co-Marketing and Collaboration Agreement for ALZET® Product Line in U.S. and Canada • PR Newswire (US) • 03/04/2024 12:00:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 09:16:39 PM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM