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news.King Pharmaceuticals and Acura Pharmaceuticals have announced that King has exercised its option to license a third immediate-release opioid analgesic product utilizing Acura's proprietary Aversion technology.
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King and Acura entered into a license, development and commercialization agreement in October 2007. The agreement provides King with an exclusive license to Acurox tablets and another undisclosed opioid product, and an option to license all future opioid analgesic products formulated with Acura’s Aversion technology.
In connection with the exercise of its option for this third opioid product under the agreement, King paid Acura an option exercise fee of $3 million. As a result, the companies are now jointly developing three immediate-release opioid analgesics utilizing Acura’s Aversion technology, which is designed to resist or deter common methods of prescription drug misuse and abuse.
Brian Markison, chairman, president and CEO of King, said: “King Pharmaceuticals is dedicated to developing a range of pain treatment solutions formulated to deliver optimal pain relief while reducing the risk of misuse, abuse and diversion. Accordingly, we are pleased to add another immediate-release opioid product that utilizes the Aversion technology platform to our development pipeline.”