Under the agreement, Schering-Plough is responsible for the development, manufacturing and commercialization of Zegerid branded over-the-counter (OTC) products with the dosage strength of 20mg of omeprazole for heartburn-related indications in the US and Canada.
Santarus expects to receive the $2.5 million payment within the next two weeks. Schering-Plough is seeking FDA approval to sell a Zegerid branded omeprazole/sodium bicarbonate OTC product.