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Pfizer terminates license to three products with Acura Pharmaceuticals
07-31-2012
SHARING OPTIONS:
PALATINE, Ill.—Acura Pharmaceuticals Inc., a
specialty pharmaceutical company developing products intended to address
medication abuse and misuse, announced July 30 that Pfizer Inc. had a few days
earlier provided notice that it is exercising its right to terminate the
license to three development-stage products.
The three products all used Acura's AVERSION
Technology, and they will return to Acura, said termination becoming effective
in 12 months under the terms of Acura’s license agreement with a subsidiary of
Pfizer.
The products being returned are oxycodone hydrochloride
with acetaminophen, hydrocodone bitartrate with acetaminophen and an
undisclosed opioid. The hydrocodone product is the most advanced in
development, with a clinical study completed in February 2012 that reportedly demonstrated
bioequivalence to its reference-listed drug. This product also was the subject
of a pre-IND meeting held with the U.S. Food and Drug Administration (FDA) in
May 2012 in which the FDA agreed to a development program for this product
generally consistent with that used for another drug using the AVERSION
technology, known as OXECTA (oxycodone hydrochloride) Tablets CII.
"We are pleased to regain control of these
tamper-resistant opioid products because we continue to believe they hold
promise in combating widespread prescription opioid abuse," said Bob
Jones, president and CEO of Acura Pharmaceuticals. "We will evaluate our
strategy for these products over the coming months, including possible
partnering with alternative strategic partners, and will work with Pfizer to
exercise our rights under the Pfizer agreement for the transition of these products
back to us."
As for OXECTA, that drug is being commercialized
by Pfizer and Pfizer will retain all rights and obligations to OXECTA under the
license agreement.
Code: E07301201 Back |
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