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news.Inspire Pharmaceuticals has exercised its option to terminate the licensing agreement with Faes Farma, for the US and Canadian development and commercialization of oral bilastine for the treatment of allergic rhinitis.
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Inspire has said that it is terminating the agreement in its entirety, and as a result, it will be no longer responsible for the development and commercialization of the oral or ocular formulations of bilastine. Inspire has no further financial obligation to Faes.
Christy Shaffer, pesident and CEO of Inspire, said: “we have made a strategic business decision to terminate the bilastine agreement and focus our resources and capital investments on our other late stage development programs and commercial activities.”