Sandoz AG, part of Novatis, has made an agreement with DURECT Corp. for the marketing of POSIMIR, an analgesic being developed by DURECT.
The purpose of DURECT's new non-opiod analgesic is to provide the prescribed individual with up to three days of pain relief following a surgery.
Though DURECT is charged with the FDA approval process and the continuation of trial testing, Sandoz will pay DURECT $20 million towards the development of the medication in addition to a number of fees and royalties based on product sales taking place in the U.S.
"Sandoz has a strong record of commercializing innovative and value-added products that serve unmet needs," Sandoz President Peter Goldschmidt said.
The Phase 3 clinical testing of the item is expected to be finalized in the third quarter of this year.
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