Endo Pharmaceuticals Announces Termination of Collaboration with Grunenthal for the Development of Axomadol
CHADDS FORD, Pa., Aug. 17, 2011 /PRNewswire via COMTEX/ --Endo Pharmaceuticals (Nasdaq: ENDP) announced today that it is terminating its research program and collaboration related to the development of axomadol. Endo licensed exclusive rights to develop and market axomadol in the United States and Canada from Grunenthal in February 2009.
"As a leader in the field of pain management, Endo remains committed to the development and commercialization of pain therapeutics," said Ivan Gergel, M.D., executive vice president, R&D, Endo Pharmaceuticals. "We have appreciated the opportunity to collaborate with Grunenthal on this program and they have been an excellent partner."
The company recently announced topline results from a phase 2 study comparing the novel investigational drug axomadol against placebo in the treatment of patients with moderate to severe chronic low back pain. The results indicate that axomadol did not meet predetermined study end points.
Endo Pharmaceuticals is a U.S.-based, specialty healthcare solutions company with a diversified business model, operating in three key business segments - branded pharmaceuticals, generics and devices and services. We deliver an innovative suite of complementary products and services to meet the needs of patients in areas such as pain management, pelvic health, urology, endocrinology and oncology. For more information about Endo Pharmaceuticals, and its wholly owned subsidiaries American Medical Systems, HealthTronics, Inc. and Qualitest Pharmaceuticals, please visit http://www.endo.com/.
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SOURCE Endo Pharmaceuticals
Posted: August 2011