SkyePharma and Endo have terminated their collaboration to develop the injectable anesthetic Propofol IDD-D. Endo licensed the drug, which posted positive Phase II data, in late 2002. The UK's SkyePharma said a Phase III trial would cost $30 million. SkyePharma stood to make a $45 million milestone payment from Endo upon FDA approval, along with a share of the revenue. SkyePharma is now considering its next step on the anesthetic, but stressed that Endo is still collaborating on a program to develop a timed-release morphine.
- read the AP article on the breakup