logo
  

Endo Enters Agreement With Taiwan Liposome To Commercialize TLC599

Endo International plc (ENDP) said its unit Endo Ventures has executed an agreement with Taiwan Liposome to commercialize TLC599, an investigational product. TLC599 is an injectable compound in phase 3 development for the treatment of osteoarthritis knee pain. Taiwan Liposome will primarily be responsible for the development of the product and Endo Ventures will primarily be responsible for obtaining regulatory approval and commercialization of the product in the United States.

Upon receipt of regulatory approval, Endo will have exclusive rights to manufacture, market, sell and distribute the product in the United States. Taiwan Liposome will receive an upfront payment of $30 million and will be eligible to receive up to an additional $110 million based on the achievement of certain milestones.

Endo International noted that the upfront payment of $30 million will be expensed in the second quarter as acquired in-process research and development. This expense was not reflected in the company's second quarter financial guidance.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Specialty athletic retailer Foot Locker, Inc. reported Friday a second-quarter net profit that plunged from last year, hurt by a sales decline amid markdowns. Quarterly sales met Street estimates. The company also trimmed it adjusted earnings and sales growth guidance for the full-year 2022. Google's hundreds of employees have signed a petition sent to executives demanding extension of abortion care benefits to contract workers. The workers also called to halt donations given to anti-abortion politicians and to expand travel benefits. The petition, circulated by the Alphabet Workers Union, has been signed by over 650 employees at Google's parent company Alphabet Inc. Apple Inc. has released an emergency security update noting that some of its iPhones, iPads and Macs had certain vulnerabilities. The tech major said the flaws potentially allow full admin access to devices. The models affected by the issue include iPhone 6S and later models, several models of the newer iPads, and Mac computers running macOS Monterey and above. The flaws also affect the iPod Touch
Follow RTT