Multiple drug companies settle opioid litigation in Ohio for $260m

Pharmaceutical Technology | October 22, 2019

Teva Pharmaceutical and three drug distributors, McKesson, Cardinal and AmerisourceBergen, have agreed to pay a total of $260m to settle opioid litigation in Cuyahoga and Summit counties of Ohio, US. The settlement was signed hours before the companies were set to face court trial. As part of the agreement, the drug distributors will pay $215m to resolve the first track of the multi-district litigation. In a joint statement, McKesson, Cardinal and AmerisourceBergen said: “While the companies strongly dispute the allegations made by the two counties, they believe settling the bellwether trial is an important stepping stone to achieving a global resolution and delivering meaningful relief. “The companies expect settlement funds to be used in support of initiatives to combat the opioid epidemic, including treatment, rehabilitation, mental health and other important efforts.” Meanwhile, Teva will make a $20m payment in cash over three years. The company will also provide $25m worth opioid treatment called Suboxone (buprenorphine naloxone) to help people with addiction. The agreement is expected to pave the way for a $48bn deal to settle approximately 2,600 opioid lawsuits pending across the country.

Spotlight

The musculoskeletal system is essential for structural support, locomotion, and movement. It is a multicomponent system composed of muscle, muscle connective tissue, tendon, ligament and bone, innervated by nerves and vascularized by blood vessels. Thus, the development of the musculoskeletal system is complex.

Spotlight

The musculoskeletal system is essential for structural support, locomotion, and movement. It is a multicomponent system composed of muscle, muscle connective tissue, tendon, ligament and bone, innervated by nerves and vascularized by blood vessels. Thus, the development of the musculoskeletal system is complex.

Related News

PHARMA TECH

Xeris Biopharma Announces Research Collaboration and Option Agreement With Horizon Therapeutics plc for XeriJect™ Formulation of Teprotumumab

Xeris | November 24, 2022

Xeris Biopharma Holdings, Inc. a growth-oriented biopharmaceutical company committed to improving patient lives by developing and commercializing innovative products across a range of therapies, announced that it has entered into a research collaboration and option agreement with Horizon Therapeutics plc. Under the terms of the agreement, Xeris will use its proprietary formulation technology platform, XeriJect™, to develop an ultra-concentrated, ready-to-use, subcutaneous injection of teprotumumab and Horizon will have an option to license the Xeris technology. Teprotumumab is the first and only medicine approved by the U.S. Food and Drug Administration for the treatment of Thyroid Eye Disease a serious, progressive and potentially vision-threatening rare autoimmune disease. Teprotumumab-trbw is known as TEPEZZA® in the United States. Xeris will receive an upfront payment, and may be entitled to receive development milestones, regulatory milestones, and salesbased milestones, as well as royalties based on future sales if the commercial license option is exercised. Specific financial terms of the agreement were not disclosed. “We are excited to announce our collaboration with Horizon for the development of a subcutaneous formulation of teprotumumab using our XeriJect technology to potentially enhance the patient experience and delivery of the treatment for Thyroid Eye Disease. This partnership demonstrates the potential value of our technology to enable large molecule subcutaneous injections that provide a more patient friendly regimen that is effective, safe, and more convenient, with potential for improved adherence.” Paul R. Edick, Chairman and CEO of Xeris About XeriJect™ XeriJect formulations are innovative, ready-to-use, viscoelastic pharmaceutical suspensions that have the potential to improve drug delivery, lower treatment burden and improve patients' lives across a broad range of therapeutic categories. XeriJect suspensions maximize drug loadings at >400mg/mL, enable small volume subcutaneous injections and do not settle on storage. The suspensions use FDA-approved excipients and leverage known manufacturing processes. XeriJect formulation technology is well suited for drugs and biologics including large molecules such as proteins, monoclonal antibodies, and vaccines. The technology is protected by an extensive patent estate, trade secrets and know-how, and it is available for licensing. About Xeris Xeris is a growth-oriented biopharmaceutical company committed to improving patients’ lives by developing and commercializing innovative products across a range of therapies. Xeris has three commercially available products; Gvoke®, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia, Keveyis®, the first and only FDA-approved therapy for primary periodic paralysis, and Recorlev® for the treatment of endogenous Cushing’s syndrome. Xeris also has a robust pipeline of development programs to extend the current marketed products into important new indications and uses and bring new products forward using its proprietary formulation technology platforms, XeriSol™ and XeriJect™, supporting long-term product development and commercial success.

Read More

PHARMA TECH

Sirona Biochem Signs International Partnership Agreement with Wanbang Biopharmaceuticals

Sirona Biochem Corp. | November 28, 2022

Sirona Biochem Corp. announces that, subsequent to the LOI, Sirona and Wanbang Biopharmaceuticals have signed an expanded, international partnership agreement to collaborate on licencing Sirona’s SGLT2 inhibitor, TFC-039, as a pharmaceutical treatment in both animal and human health. The agreement adds human health to the partnership as a result of new licencing opportunities currently in due diligence. Wanbang and Sirona initially signed a licensing agreement for TFC-039, whereby Wanbang obtained the rights to develop the compound as a diabetes treatment in China and Sirona retained the global rights. Sirona has since been in discussions with animal health companies to advance TFC-039 as a treatment for diabetes and chronic kidney disease in companion animals. SGLT2 inhibitors provide an opportunity to treat inflicted animals with an oral medication as opposed to the traditional method of daily insulin injections. More recently, Sirona has entered into due diligence with a large pharmaceutical company with a regional interest in developing the compound for human diabetes. Together, Sirona and Wanbang share extensive knowledge and scientific results of TFC-039. Partnering will significantly increase the speed to third-party partnerships and commercialization. The shared data spans over 12 years of research and development, and includes in vitro and in vivo preclinical work, multiple clinical studies, advanced manufacturing process development and the ability to commercially manufacture TFC-039. “We have a long-standing relationship with Wanbang and are excited to combine our two companies’ expertise to license TFC-039. Wanbang has invested millions of dollars into the clinical stage research and development of the manufacturing processes for TFC-039. These pieces of data are critical to large organizations and will greatly increase the opportunities to move forward. The probability of a successful licensing agreement has been made much stronger by leveraging our alliance with Wanbang. We have had a successful year building Sirona’s pipeline, with positive movement on all projects and we’re looking forward to continuing this success with our SGLT2 inhibitor as well as our antiviral and anti-aging projects in 2023.” Dr. Howard Verrico, CEO About Wanbang Biopharmaceuticals and Fosun Pharmaceuticals Wanbang Biopharmaceuticals develops, manufactures, and markets drugs with indications for chronic disease treatment, antibiotics, and other endocrine diseases in China. Founded in 1981, the company is headquartered in Xuzhou, China, and is a subsidiary of Shanghai Fosun Pharmaceutical Group. Fosun is a leader in the pharmaceutical industry and is regarded as one of the top five domestic pharmaceutical companies in China. About Sirona Biochem Corp. Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential. Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants.

Read More

PHARMA TECH

BIOCORP and Merck KGaA, Darmstadt, Germany, Sign a New Partnership for Smart Drug Delivery

BIOCORP and Merck KGaA, Darmstadt, Germany | October 11, 2022

BIOCORP a French company specialized in the design, development, and manufacturing of innovative medical devices, and Merck KGaA, Darmstadt, Germany, a leading science, and technology company, have entered into an agreement for the development and supply of a specific version of Mallya device as an accessory for one of Merck KGaA, Darmstadt, Germany's drug delivery devices. Manufactured in Clermont-Ferrand Mallya is a Bluetooth enabled clip-on device for pen injectors that collects dose and time of each injection and transfers information in real time to a companion software. Mallya is the first in its category to receive the CE-mark and commercial versions for insulin pen injectors are already available and distributed in Europe and other geographies. Major agreements have already been signed by BIOCORP with Sanofi, Novo Nordisk and Merck KGaA, Darmstadt, Germany, to develop specific versions of the technology in the field of Insulin and Human Growth Hormone (HGH). Healthcare companies BIOCORP and Merck KGaA, Darmstadt, Germany, will develop a new version of Mallya to help patients monitor their injection during their treatment. The device will automatically keep track of doses injected with timestamp and indicate that the product is administered properly, aiming to support patients with self-injections and to provide reassurance to patients. Financial details of the partnership include payments from Merck KGaA, Darmstadt, Germany, up to 5 million € for the development of the product within the first three years of the collaboration. Additional revenues are estimated to reach up to 8 million € during the first 5 years after launch depending on commercial milestones and adoption of Mallya devices by Merck KGaA, Darmstadt, Germany patients with further upside potential in the subsequent years. "We are delighted with this new partnership with Merck KGaA, Darmstadt, Germany, extending our collaboration to additional therapeutic areas. We had already announced that there is a great opportunity for our connected device Mallya in various therapeutic areas. As in diabetes, Mallya aims to reduce patients' stress and improve compliance with their treatments to optimize and secure the results “, Éric Dessertenne, CEO of BIOCORP ABOUT BIOCORP Recognized for its expertise in the development and manufacture of medical devices and delivery systems, BIOCORP has today acquired a leading position in the connected medical device market thanks to Mallya. This smart sensor for insulin injection pens allows reliable monitoring of injected doses and thus offers better compliance in the treatment of patients with diabetes. Available for sale from 2020, Mallya spearheads BIOCORP's product portfolio of innovative connected solutions. The company has 74 employees. BIOCORP is listed on Euronext since July 2015.

Read More