Somaxon, P&G deal

Somaxon said Procter & Gamble declined to exercise its option to negotiate for OTC rights to Somaxon's insomnia drug Silenor doxepin. P&G, which no longer has any rights to the product, gained the right of first negotiation under a 2010 U.S. co-promotion deal. Somaxon ended the deal last year, but extended P&G's exclusive negotiation period for rights to develop and market OTC Silenor in the U.S. Somaxon now plans to seek a partner to develop and commercialize the OTC product (see BioCentury, Oct. 10, 2011). ...