May 9, 2018 / 12:07 PM / 3 months ago

BRIEF-Durect Announces Amendment To Licensing Agreement With Sandoz

May 9 (Reuters) - DURECT Corp:

* DURECT ANNOUNCES AMENDMENT TO LICENSING AGREEMENT WITH SANDOZ RELATED TO POSIMIR® (SABER®-BUPIVACAINE)

* DURECT CORP - DURECT IS NOW ELIGIBLE FOR UP TO $30 MILLION IN MILESTONE PAYMENTS BASED ON NDA APPROVAL

* DURECT CORP - EACH PARTY, PURSUANT TO AMENDMENT, IS ALSO PERMITTED TO DEVELOP OR COMMERCIALIZE COMPETING PRODUCTS

* DURECT CORP - PURSUANT TO AMENDED AGREEMENT, DURECT REMAINS ELIGIBLE FOR UP TO AN ADDITIONAL $230 MILLION IN SALES-BASED MILESTONES

* DURECT - PURSUANT TO AMENDED AGREEMENT, THERE IS NEW TERMINATION FEE PAYABLE TO DURECT IN EVENT THAT SANDOZ TERMINATES AGREEMENT FOR CONVENIENCE

* DURECT CORP - AMENDMENT ALSO INCLUDES MODIFICATIONS TO DURECT’S DEVELOPMENT OBLIGATIONS AND TO BOTH PARTIES’ TERMINATION PROVISIONS

* DURECT CORP - DURECT HAS RIGHT TO TERMINATE FOR CONVENIENCE PRIOR TO NDA APPROVAL Source text for Eikon: Further company coverage:

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