Hospira, Durect Enter Anesthetic Drug Pact

Hospira and Durect Corp. have entered into a licensing agreement to develop and market Durect’s Posidur (SABER-bupivacaine), a long-acting version of the anesthetic bupivacaine, currently in Phase III trials. Hospira will co-develop the drug and will have exclusive marketing rights in the U.S. and Canada, if approved.

Hospira will make an upfront payment of $27.5 million, with the potential for an additional $185 million in success-based development and commercialization milestones. Durect will also receive royalties on sales. The two companies will share remaining development costs in the U.S. and Canada, and Hospira will have exclusive commercialization rights.

Posidur is designed to provide as many as 72 hours of anesthetic directly at the site of a surgical wound, with the potential to reduce post-surgical pain and allow earlier hospital discharge. Results from the Phase III trials are expected in 2011.

“This partnership with Durect provides Hospira with U.S. and Canadian rights to an exciting new product that will bolster our leadership position in acute-care proprietary pharmaceuticals,” said Andrew Robbins, vice president, Corporate Development and Proprietary Pharmaceuticals, Hospira. “Posidur is being developed to improve post-surgical recovery, which represents a good fit with our vision of advancing wellness for patients.”

“This collaboration builds on the relationship we’ve had with Hospira for several years as our manufacturer of Posidur,” stated James E. Brown, president and chief executive officer of Durect Corp. “We believe that Posidur has the potential to play a significant role in treating post-surgical pain, reducing the need for systemic narcotic pain relief and associated side effects, as well as costs associated with lengthy hospital stays.”


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