Withdrawal symptoms

Neuromed Pharmaceuticals Ltd. believes it has a trial design for Oros hydromorphone that will lead to success after Johnson & Johnson dropped efforts to win FDA approval. Investors last week ponied up $53.3 million in a series E round to back that up. The funds will help finance the company's Phase III program in chronic pain, after which revenues from an approved drug would finance the company's more novel - but earlier stage - pain programs.

Oros hydromorphone was developed by Alza Corp., now a subsidiary of JNJ (New Brunswick, N.J.). In 2000, Alza received an approvable letter from FDA asking for an additional placebo-controlled trial. At the end of 2005, the pharma company said it was considering alternatives to continued development in the U.S., even as it was continuing to seek registration in Europe...