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news.NovaDel Pharma has terminated certain license agreements relating to the development and commercialization of ondansetron HCl oral spray product, with Talon Therapeutics and Par Pharmaceutical.
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As per the termination, all rights to develop and commercialize the product were returned to the company in exchange for Talon’s right to receive certain royalty payments in connection with the product.
According to the company, the termination better positions the company for a potential strategic transaction by returning control of the product within the US and Canada to the Company.
NovaDel Pharma is a specialty pharmaceutical company that develops oral spray formulations of marketed pharmaceutical products.