Par stops Cesamet promotion with Valeant

Par Pharmaceutical says that fellow US firm Valeant Pharmaceuticals North America has exercised its right to terminate the agreement for Par to promote its anti-emetic Cesamet (nabilone) capsules, effective November 15. Under the terms of the deal, as of November 1, either party is entitled to terminate the accord for convenience on 15 days notice.

"Since entering into the Cesamet agreement last year, strategic priorities have changed for both companies," said Patrick LePore, chief executive of Par.

In May 2006, Valeant received approval for Cesamet from the Food and Drug Administration and, in September, Par began promoting the product to physicians in the USA. Both firms entered into the agreement to collaborate in the commercialization of the product in October 2005. Cesamet is a synthetic cannabinoid for the treatment of nausea and vomiting associated with cancer chemotherapy in patients who have failed to respond adequately to conventional anti-emetic treatments.