Durect has been paid $2.25 million up front and up to $103 million in the future for the new drug, risperidone. Zogenix is handling the development and commercialisation of the drug and is seeking regulatory approval to begin phase I trials in early 2012, intending to use it as a schizophrenia treatment.
Durect is providing technology which will allow for an extended release of risperidone. The new drug would be given monthly, rather than the current treatment, Risperdal, that is given twice monthly. However, the new drug will not challenge the current one for a few years, with Risperdal bringing in $1.5 billion for Johnson and Johnson in 2010.
Looking for a job in the pharmaceutical industry? Start by clicking here, now.