Endo Pharmaceuticals Press Release (01/06/12)
Endo Pharmaceuticals has announced that it has signed a worldwide license and development agreement with U.S.-based BioDelivery Sciences International for BEMA Buprenorphine, which is currently in phase III trials for the treatment of moderate to severe chronic pain. Financial terms of the agreement include an upfront payment of $30 million to BioDelivery Sciences International, royalties of net sales, and up to approximately $150 million in milestones contingent upon achievement of pre-defined, late state clinical and regulatory events and achievement of certain sales targets. "Endo is committed to serving as an integrated solutions provider for the development and commercialization of products focused on the management of pain," said Dave Holveck, president and CEO of Endo Pharmaceuticals. "The addition of BEMA Buprenorphine will broaden Endo's portfolio of pain therapeutics."

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