Sepracor, Inc. (SEPR)

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AP
Sepracor Partners to Sell Epilepsy Drug
Wednesday January 2, 7:48 am ET
Sepracor Enters Partnership With Bial to Finish Developing and Sell New Epilepsy Drug

MARLBOROUGH, Mass. (AP) -- Drug developer Sepracor Inc. said Wednesday it is partnering with Portugal-based drug developer Bial to develop and sell a new epilepsy drug.
Sepracor will file a new drug application with the Food and Drug Administration, as early as late 2008 or early 2009. Bial is entitled to a $75 million payment upfront, and milestone payments up to $100 million.

The compound, called BIA 2-093, has already been tested in three late-stage studies involving more than 1,000 patients. Sepracor's drugs include Lunesta for insomnia and Xopenex for asthma.

Shares of Sepracor closed at $26.25 Monday.