Pacira Pharmaceuticals Inc. (PCRX) comes on our radar after signing a global licensing agreement for development and commercialization of Bupivacaine Liposome injectable suspension for animal health indications.
Pacira develops, commercializes, and manufactures pharmaceutical products for use in hospitals and ambulatory surgery centers. The company develops pharmaceutical products based on its proprietary DepoFoam drug delivery technology.
Its product portfolio includes EXPAREL, a long-acting non-opioid postsurgical analgesic for postsurgical pain management; DepoCyt for the treatment of lymphomatous meningitis, a cancer of the immune system; DepoDur for controlling post operative pain; DepoNSAID, which is in preclinical trials for the relief of acute pain; and DepoMethotrexate that is in preclinical trials for the treatment of rheumatoid arthritis oncology.
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Pacira said it signed a global licensing agreement with Aratana Therapeutics for the development and commercialization of bupivacaine liposome injectable suspension for animal health indications. As per the deal, Aratana will develop and seek approval for the use of the product in veterinary surgery to manage postsurgical pain, focusing initially on developing the product for cats, dogs and other companion animals.
Bupivacaine liposome injectable suspension is approved for human use in the United States for the management of postsurgical pain and is currently marketed by Pacira under the name EXPAREL. EXPAREL is a non-opioid local anesthetic, which was approved by the U.S. FDA in October 2011 for administration into the surgical site to produce postsurgical analgesia.
Aratana made a one-time payment to Pacira of $1 million and will pay additional development and commercial milestones totaling up to $42.5 million. In addition, upon approval of the product by the FDA, Aratana will pay Pacira a double-digit royalty on net sales of the product. Should Aratana sublicense the product to a third party, Aratana and Pacira will share the proceeds by a predetermined formula.
Pacira will be responsible for all product manufacturing, and Pacira and Aratana will form a joint committee to oversee commercialization and development activities.
by RTT Staff Writer
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