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Replies to post #208550 on Biotech Values
DewDiligence
05/08/17 9:37 AM
#211130 RE: DewDiligence #208550
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.