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Positive Bioequivalence Study Results Trigger Milestone Payment for Eurand

September 4, 2007

Eurand, an Italian pharmaceutical company, said that its collaborator, GlaxoSmithKline (GSK), completed a bioequivalence study of an undisclosed GSK compound. 

GSK said it will make a milestone payment of $1.5 million to Eurand in recognition of this milestone. 

The new formulation, using Eurand’s Microcaps and AdvaTab technologies, is designed to dissolve quickly in the mouth without leaving a sour or bitter taste.

Under the agreement, and upon approval of an expected new drug application to be filed by GSK, Eurand will manufacture the product for GSK and receive royalty revenues.