Abbott, Neurocrine Developing Gynecological Drug
From Associated Press (June 16, 2010)
NEW YORK -- Abbott Laboratories and Neurocrine Biosciences Inc. said Wednesday they will develop the potential gynecological treatment elagolix.
Elagolix is aimed at treating pain associated with the gynecological condition endometriosis. The drug recently completed a midstage study and the companies said they will also study the drug candidate as a treatment for uterine fibroids, or benign tumors in the uterus.
Abbott will receive worldwide exclusive rights to develop and sell elagolix. It will pay Neurocrine $75 million upfront and fund ongoing activities. Neurocrine is eligible for additional payments of about $500 million.
Posted: June 2010