Endo Pharma returns rights to Belbuca

8 December 2016

Ireland-incorporated Endo Pharmaceuticals (Nasdaq: ENDP) is terminating its licensing rights for Belbuca (buprenorphine) buccal film. This transaction follows a strategic decision made by Endo regarding its US branded pain business.

As a result of the agreement, the worldwide rights to Belbuca will be transferred back to BioDelivery Sciences International (Nasdaq: BDSI), whose shares were down 5.9% at $1.60 by mid-morning trading. Endo acquired rights to the drug in 2012, in a deal worth around $180 million to BioDelivery.

While specific financial terms of the agreement have not been disclosed, the total cost of the transaction to BioDelivery will not materially impact its cash flow going forward. Furthermore, BioDelivery says it will not be responsible for future royalties or milestone payments to Endo, and Endo will not be obligated to any future milestone payments to the company. The agreement goes into effect on January 6, 2017.

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