Endo Licenses Novel Pain Therapy From Grunenthal
Under the license agreement signed by both companies, Endo will pay Grunenthal an upfront cash payment as well as additional payments to Grunenthal that are linked to the achievement of future clinical, regulatory and commercial milestones
by Impact Wire Monday, March 02, 2009
Under the license agreement signed by both companies, Endo will pay Grunenthal an upfront cash payment as well as additional payments to Grunenthal that are linked to the achievement of future clinical, regulatory and commercial milestones. In addition, Grunenthal will receive a transfer price including cost of goods and royalties on net sales of the product in the US and Canada. The product will be manufactured by Grunenthal. Endo will participate with Grunenthal in joint product development and commercialization committees and be responsible for all clinical development, product registration, marketing and sales activities in the Endo territories, while Grunenthal will be responsible outside the US and Canada.
Prof. Eric-Paul Paques, executive board member of Grunenthal responsible for research and development, said: "Endo is an excellent partner for successfully developing and marketing our compound axomadol. We are pleased to cooperate on our new chemical entity axomadol in order to complement the efficacious and safe treatment options available for moderate to severe pain relief. This cooperation confirms Grunenthal's innovative power in pain research."
Ivan Gergel, M.D., Endo's executive vice president of research and development, said: "We believe axomadol has potential efficacy, safety and scheduling advantages over other current pain therapies that make it a compelling drug development opportunity and new product candidate for Endo. We look forward to working with Grunenthal to continue the development program for this compound and to evaluate further its clinical and commercial potential."
Grunenthal is an expert in pain therapy and gynaecology and a pioneer in intelligent, user-friendly drug delivery technologies. The company discovers, develops, produces and markets high therapeutic value pharmaceuticals that contribute to patients' ability to control their own lives. Grunenthal is an independent, family-owned German company with companies in 32 countries all over the world. Founded in 1946, the company employs 1,900 people in Germany and 5,300 worldwide. In 2007, Grunenthal achieved revenues of 846 million Euros. More information: http://www.grunenthal.com
JSB Partners LP acted as transaction advisor to Grunenthal.
Endo Pharmaceuticals is a specialty pharmaceutical company engaged in the research, development, sale and marketing of branded and generic prescription pharmaceuticals used primarily to treat and manage pain. The company markets its branded pharmaceutical products to physicians in pain management, neurology, surgery, oncology, and primary care. More information, including this and past press releases of Endo Pharmaceuticals, is available at http://www.endo.com.
Contact: Annette Fusenig, PhD. Tel.: +49-241-569-3345, Fax: +49-241-569-3539, email@example.com Grunenthal GmbH, D-52099 Aachen, http://www.grunenthal.com
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