Daiichi Sankyo Ends Hydrocodone PactBy
Daiichi Sankyo has ended the company’s 2014 development and commercialization agreement with Charleston Laboratories, a Jupiter, Florida-headquartered specialty pharmaceutical company. The termination ends further involvement with the development and commercialization of Charleston Laboratories’ hydrocodone products, including CL-108 (hydrocodone, acetaminophen, promethazine) and returning all of its rights to those products to Charleston Laboratories.
Daiichi Sankyo will take an impaired loss of approximately 27.8 billion yen ($255 million) in the second-quarter consolidated financial result for fiscal year (FY) 2017, reflecting payments made to Charleston Laboratories under the agreement.
In 2014, the companies formed a $650-million ($200 million upfront and $450 million in milestones) strategic collaboration for Charleston Laboratories’ hydrocodone combination products, which were being studied for treating moderate-to-severe acute pain as well as reducing opioid-induced nausea and vomiting.
Source: Daiichi Sankyo