Napo Pharmaceuticals has terminated its collaboration agreement with Salix Pharmaceuticals, which covered commercial development of the drug compound, crofelemer.
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The compound is used as a treatment for diarrhea, a life-threatening ailment that impacts millions of people across the world.
The termination has been done as Salix is said to have breached the Collaboration Agreement.
Following the termination of the collaboration agreement, Napo is likely to pursue an NDA, enter into new licensing agreements and seek commercialization plans for crofelemer.
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