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news.GlaxoSmithKline will make a milestone payment of $1.5 million milestone payment to Eurand after successfully completing a pivotal bioequivalence study of an undisclosed compound.
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<p>The new formulation, using Eurand's Microcaps and AdvaTab technologies, is designed to dissolve quickly in the mouth without leaving a sour or bitter taste. Eurand could potentially receive milestone payments from GSK totaling up to $42 million for the development of this product. GSK expects to file an NDA in the near future. Under the agreement, and upon approval of the NDA, Eurand will manufacture the product for GSK and receive royalty revenues.<br /><br />Gearoid Faherty, CEO of Eurand, said: We are delighted with the results of the biostudy and are looking forward to GlaxoSmithKline submitting their NDA in the near future.</p>