Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Transcept Pharma Receives $10 Mln Milestone Payment From Purdue - Quick Facts

Transcept Pharmaceuticals Inc. (TSPT: Quote) said Wednesday it received a $10 million milestone payment from Purdue Pharma LP in connection with the listing of Intermezzo formulation patents in the FDA Orange Book on December 15, 2011.

The milestone payment was made under the terms of the agreement between Purdue and Transcept for the commercialization of insomnia drug Intermezzo in the US. Purdue plans to launch Intermezzo in the second quarter of 2012 and to invest about $100 million to support marketing during the first year of commercialization.

On November 23, 2011, the FDA approved Intermezzo (zolpidem tartrate) sublingual tablet C-IV for use as needed for the treatment of insomnia when a middle-of-the-night awakening is followed by difficulty returning to sleep.

Transcept reported cash, cash equivalents and marketable securities of $54.1 million at September 30, 2011, and excludes the $10 million payment received today.

Click here to receive FREE breaking news email alerts for Transcept Pharmaceuticals, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumer prices in the U.S. unexpectedly showed a modest increase in the month of September, according to a report released by the Labor Department on Wednesday, with higher prices for food and shelter offsetting a continued decline in energy prices. The European Parliament has given its strong support to the new European Commission with 423 votes in favor, 209 against and 67 abstentions. The approval was crucial for the Juncker Commission to start a five-year term on 1 November. Today's vote marks the last step in the process leading up to the new European Commission. The European Cabinet has a representative each from all 28 EU member states After moving notably higher over the past few sessions, stocks may show a lack of direction in early trading on Wednesday. The major index futures are currently pointing to a roughly flat open for the markets, with the Dow futures up by just 5 points.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.