PDI, Inc. (PDII)

[surf1944]

7:46AM PDI Inc announces $55 mln agreement to market Rx product through 2013 for treatment of knee pain (PDII) 7.46 : Co announced that through a newly formed business unit, Interpace BioPharma, it has entered into a two-and-a-half-year, fee-for-service agreement with a pharmaceutical co to market in the U.S. and its territories a treatment for pain of the knee. The agreement is expected to generate ~$10 mln of revenues to PDI in 2011 and $55 mln over the life of the contract. The agreement, which runs through December 31, 2013, includes an option for a contract extension. Under the agreement, Interpace will provide a dedicated full-time sales team and a fully integrated strategic and operational management team that, together with the pharmaceutical company, are responsible for the U.S. commercialization of the product.