NovaDel regains rights for ondansetron oral spray product

22 January 2012

New Jersey, USA-based NovaDel Pharma (OTCBB: NVDL) has announced the termination of certain license agreements with Talon Therapeutics (formerly Hana Biosciences) and Par Pharmaceutical relating to the development and commercialization of the company’s ondansetron HCl oral spray product, effective as of January 16, 2012. The original accord was signed in 2004 (The Pharma Letter September 20, 2004).

Ondansetron - carrying the trade name Zofran - was originally developed by UK drug major Glaxo, now GlaxoSmithKline, as an anti-emetic used in cancer chemotherapy treatment, but the drug is now well off patent.

Under the agreements terminating the Talon and Par license agreements, all rights to develop and commercialize the product were returned to NovaDel in exchange for Talon’s right to receive certain royalty payments in connection with the product. The company believes the termination of these license deals better positions NovaDel for a potential strategic transaction by returning control of the product within the USA and Canada to the company.

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