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Endo Pharma to pay Alexza $10 mln for pain-relief inhaler rights

Thu Dec 27, 2007 4:37pm EST

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Dec 27 (Reuters) - Endo Pharmaceuticals Holdings Inc (ENDP.O) said it signed a licensing agreement with Alexza Pharmaceuticals Inc (ALXA.O) to develop and market Alexza's pain-relief inhaler for an upfront fee of $10 million.

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Under the terms of the deal, Endo will make additional payments of about $40 million upon achievement of certain regulatory milestones and pay undisclosed royalties to Alexza on sales of the product, AZ-003, which is in the early stage trials.

Endo will fund and assume responsibilities for all remaining clinical trials and regulatory filings, while Alexza will be responsible for manufacturing and completing development of the device, the company said in a statement. (Reporting by Aditi Samajpati in Bangalore)

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