December 2, 2010 / 10:51 PM / 9 years ago

UPDATE 1-Cadence, Bristol-Myers ink supply deal for painkiller

* Agreement has initial term of 36 months

* Also submits application for additional facility

Dec 2 (Reuters) - Cadence Pharmaceuticals Inc CADX.O signed a supplemental supply agreement with a unit of Bristol-Myers Squibb (BMY.N) for the manufacture of Cadence’s recently approved painkiller, Ofirmev.

Cadence also sought approval from the U.S. Food and Drug Administration for the BMS Anagni facility, an indirect subsidiary of Bristol, as an additional manufacturing site for the drug and estimated a four- to six-month review period.

Terms of the agreement, which has an initial term ending 36 months after the FDA approval, were not disclosed.

Baxter International Inc (BAX.N) will remain the primary supplier of the drug for sale in the United States and Canada, Cadence said in a statement.

Cadence’s shares, which have fallen nearly 16 percent since Ofirmev got FDA nod, closed at $7.57 on Thursday on Nasdaq. (Reporting by Shravya Jain in Bangalore; Editing by Gopakumar Warrier)

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