Home » KING PHARMA, PAIN THERAPEUTICS TEAM ON DRUG
KING PHARMA, PAIN THERAPEUTICS TEAM ON DRUG
King Pharmaceuticals Inc. (KG.N: Quote, Profile, Research) said on Thursday it entered a strategic alliance with Pain Therapeutics Inc.(PTIE.O: Quote, Profile, Research) to develop and sell a long-acting, abuse-resistant form of the painkiller Oxycontin. Under the agreement, King will pay Pain Therapeutics $150 million in cash. If the drug is approved, Pain Therapeutics will receive additional payments up to $150 million, depending on sales volume.
Reuters (http://today.reuters.com/business/newsArticle.aspx?type=health&storyID=nN10168876)
KEYWORDS FDAnews Drug Daily Bulletin
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