Inspire bails on $89M allergy pact

A little more than a year after agreeing to pay up to $89 million to license the promising allergy pill bilastine from FAES Farma, Durham, NC-based Inspire Pharmaceuticals is dumping the pact and refocusing on other programs in the pipeline. Inspire and FAES has amended the deal last summer after the FDA announced that further studies would be needed for approval.

"We have made a strategic business decision to terminate the bilastine agreement and focus our resources and capital investments on our other late stage development programs and commercial activities," Inspire CEO Christy L. Shaffer said in a prepared statement.

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- read the report from the News & Observer