Egalet, Shionogi to Co-Develop Abuse-Deterrent Opioids

UK-based Egalet has signed a licensing agreement with Shionogi to develop and market oral abuse-deterrent hydrocodone opioid products, with Shionogi footing the bill for all development costs and holding on to global marketing rights.

Under the terms of the agreement, Shionogi will pay $10 million upfront to Egalet plus additional milestone payments up to $300 million upon the development and approval of products resulting from the agreement. Egalet will also be eligible for royalties on sales that could top $100 million.

Egalet has two Phase I oral opioid products already in its pipeline. In September, the company announced it would soon begin a Phase III trial for Egalet 001, with plans to submit an NDA in the fourth quarter of 2014. —Lena Freund

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