Penwest, Endo, Valeant Sign Marketing Agreement For Opana Er

Penwest, Endo and Valeant have announced that Endo has signed an exclusive license with Valeant allowing it to market Opana Er in Canada, Australia and New Zealand. Opana Er, the extended release formulation of oxymorphone, was jointly developed by Penwest and Endo.

The agreement is the first one resulting from the collaborative work Penwest and Endo began late last year, to license Opana Er in territories outside the US.

Under the terms of the collaboration agreement between Penwest and Endo, both the companies have agreed to share equally in the proceeds received from Valeant for Opana Er.

Jennifer Good, President and CEO, Penwest, said: We are very pleased with the agreement with Valeant to license Opana Er in Canada, Australia and New Zealand, all of which are regions where Valeant has a strong regulatory and commercial presence. As the first licensing agreement for Opana Er outside the US, this deal represents the achievement of one of the deliverables we committed to our shareholders in optimizing the value of this important asset for them. We continue to work toward achieving additional licensing deals for Opana Er in other territories outside the US.