Replies to post #624 on Durect (DRRX)

[nlightn]

Durect, Novartis sign $293M U.S. development, marketing deal for Posimir

May 8, 2017 7:31 AM ET

Durect (NASDAQ:DRRX) announces a development and commercialization agreement with Novartis' (NYSE:NVS) Sandoz unit to develop and market its Posimir in the U.S.; shares are halted.

NVS will make a $20M upfront payment to DRRX, with the potential for up to an additional $43M in development and regulatory milestones, up to an additional $230M in sales based milestones, and a tiered double digit royalty on product sales in the U.S.

Posimir is a controlled release injection of bupivacaine intended to provide up to three days of continuous pain relief after surgery.