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news.UK-based SkyePharma and its US partner Endo Pharmaceuticals have agreed to terminate the joint development of Propofol IDD-D, an injectable anesthetic and sedative.
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The product, initially developed by SkyePharma, was licensed to Endo in December 2002. The UK company said that it is now evaluating its options worldwide for this product.
Under the terms of the December 2002 agreement with Endo, SkyePharma would have been responsible for the up to $30 million cost of phase III development for the product, but could have received up to $45 million in additional milestone payments from Endo if the product had been approved by the FDA.
Propofol is a widely-used intravenous anesthetic and sedative, supplied as a 1% injectable emulsion. It is used for induction of short-term anesthesia, typically 30-60 minutes, or as an infusion for sedation.
Propofol IDD-D is a 2% intravenous formulation of propofol as the sole active ingredient and employs SkyePharma’s insoluble drug delivery (IDD-D) technology. Propofol IDD-D was designed to avoid the need for incorporation of a preservative to prevent microbial contamination. The product successfully completed phase II trials in 2004.
SkyePharma said that its agreement with Endo over DepoDur, a sustained release injectable version of morphine for control of post-operative pain, is unaffected by the termination of the joint development of Propofol IDD-D.