www.fdanews.com/articles/69824-endo-pharm-gets-u-s-canada-license-for-durect-s-patch
Endo Pharm Gets U.S., Canada License for Durect's Patch
March 14, 2005
Endo Pharmaceuticals Holdings licensed Durect's pain patch for an upfront fee of $10 million, and said it lowered its 2005 adjusted earnings guidance to reflect higher research and development costs. Endo agreed to pay about $35 million if regulatory and commercial milestones are reached. It will also pay an unspecified amount of royalties based on product sales. In a press release Monday, Endo said it signed an exclusive license to develop and sell the product in the U.S. and Canada. The product is in early clinical development to provide pain relief for up to seven days.