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. In addition, Grunenthal will receive a transfer price including cost of goods and royalties on net sales of the product in the US and
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 once more confirms Grunenthal’s innovative power in pain research.”
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
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. Its products include LIDODERM(R), a topical patch to relieve the pain of postherpetic neuralgia; PERCOCET(R) and PERCODAN(R) tablets for the relief of moderate-to-moderately severe pain; FROVA(R) tablets for the acute treatment of migraine attacks with or without aura in adults; OPANA(R) tablets for the relief of moderate-to-severe acute pain where the use of an opioid is appropriate; OPANA(R) ER tablets for the relief of moderate-to-severe pain in patients requiring continuous, around-the-clock opioid treatment for an extended period of time; and VOLTAREN(R) gel, a nonsteroidal anti-inflammatory drug indicated for the relief of the pain of osteoarthritis of joints amenable to topical treatment. 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 www.endo.com.
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SOURCE Endo Pharmaceuticals