Labopharm, Angelini deal
Labopharm said it has entered into discussions with Gruppo Angelini to restructure their deal covering major depressive disorder (MDD) drug Oleptro trazodone in the U.S. to further preserve capital as part of Labopharm's ongoing review process. The partners market the extended-release formulation of the serotonin antagonist reuptake inhibitor (SARI) in the U.S. through their JV, Angelini Labopharm. Labopharm co-developed and has rights to commercialize Oleptro in the U.S., Canada and most ex-European territories under a deal with Angelini. Labopharm recognized $454,000 in revenue from sales of Oleptro by the JV in 1Q11. The biotech said it is evaluating strategies to capitalize on its Intellitab technology to develop abuse- and misuse-deterrent drug formulations and its Polymeric Nano-Delivery Systems (PNDS) drug delivery technology to deliver poorly soluble drugs. ...