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Durect, Hospira Enter Pact for Posidur
Posted on 2007-01-29 09:39:00
Drug maker Durect Corp. said that Hospira Worldwide Inc. has agreed to manufacture the company's Posidur anesthetic, currently undergoing clinical trials.
Financial details of the agreement were not disclosed.
Under the agreement, Hospira's One 2 One contract manufacturing business will make clinical and commercial supplies of Posidur for Durect. The drug is a long-lasting local anesthetic that is currently in mid-stage clinical trials.
In November, Durect agreed to help develop Posidur with Danish drugmaker Nycomed for an upfront fee of $14 million and future milestone payments worth up to $188 million. The companies expect to move onto late-stage clinical trials this year.
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