Rochester, NY 8/3/2009 10:07:59 PM
BioDelivery Sciences Internatio, BDSI - Accept Approval from U.S FDA Cancer Drug
BioDelivery Sciences Internatio
BioDelivery Sciences Internatio, BDSI
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BioDelivery Sciences International Inc., led by Chairman Frank O'Donnell Jr., a St. Louis ophthalmologist, has received approval from the U.S. Food and Drug Administration to market a cancer pain drug patch for the inside of the cheek. Onsolis is expected to be obtainable in the fourth quarter of 2009 and will be commercialized in the United States by Meda Pharmaceuticals, the U.S. subsidiary of Sweden-based Meda AB.
Under the terms of its commercialization contract with Meda, Raleigh, N.C.-based BioDelivery Sciences will receive $27 million in milestone payments. The first, worth $15 million, is based upon FDA approval of the drug. A second payment of $15 million will be received following the manufacture of launch stocks of Onsolis, a target the company has also achieved.
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