Otsuka unit turns its back on migraine drug

11 December 2018

Avanir Pharmaceuticals, a subsidiary of Japanese drugmaker Otsuka (TYO: 4768), is ending its licensing agreement with Optinose (Nasdaq: OPTN) for the intranasal migraine medication Onzetra Xsail (sumatriptan nasal powder).‎

The deal allowed Avanir to develop and commercialize the drug in the USA, Canada and Mexico, but this will not now happen despite Optinose having received aggregate cash payments of $70 million in connection with the initial signing and subsequent payments.

Upon termination of the agreement on March 10 next year, Optinose may elect to continue to commercialize Onzetra Xsail itself or through a new licensee.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK