Durect, Pain fall on Pfizer Remoxy update

Shares of Durect Corp. (NASDAQ:DRRX) and Pain Therapeutics Inc. (NASDAQ:PTIE) slid on Friday after partner Pfizer Inc. (NYSE:PFE) disclosed in an SEC filing that if it "elect[s] to continue development" of Remoxy oxycodone, it does not expect to submit a response to a June 2011 complete response letter for the pain candidate before mid-2015. In a King Pharmaceuticals Inc., which was partnered with Pain for Remoxy and other abuse-resistant opioid painkillers. Remoxy is a high viscosity capsule formulation of oxycodone formulated with Oradur Technology from Durect. ...