Woodcliff Lake-based Eisai Inc. announced it will buy out Purdue Pharma LP‘s rights to the worldwide collaboration for the development and commercialization of Lemborexant, an investigational sleep-wake regulation agent being studied for the treatment of multiple sleep-wake disorders, including insomnia and irregular sleep-wake rhythm disorder in patients with Alzheimer’s Disease.
Under the terms of the original agreement, which was established in August 2015, Eisai and Purdue shared the costs of Lemborexant global clinical studies and the costs to prepare for commercialization.
As part of the buy out arrangement, Eisai will provide a one-time payment to Purdue and Purdue will no longer participate or fund the development and commercialization of Lemborexant. Eisai will be solely responsible for conducting all future development and the commercialization activities globally.
“As a result of the ongoing diversification of our research product portfolio, Purdue’s business priorities have shifted since this collaboration was initiated,” said Dr. Craig Landau, president and chief executive officer, Purdue Pharma. “This mutual decision enables us to dedicate our resources to our oncology, non-opioid pain, and other CNS programs. Purdue appreciates the opportunity to collaborate with Eisai and we wish them continued success with the advancement of lemborexant.”
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Date: May 06, 2019
Source: NJBIZ
