SkyePharma calls an end to Propofol IDD-DTM joint development

Last week saw SkyePharma announce that it was ending joint development of injectable anaesthetic and sedative Propofol IDD-DTM, which it had been working on in cooperation with Endo Pharmaceuticals.

SkyePharma specialises in the drug delivery technologies and currently has 12 approved products spanning oral, injectable, inhaled and topical delivery.

Under the terms of the agreement with Endo, SkyePharma states it would have been required to pay $30 million associated with phase III of the development of Propofol IDD-DTM, which is designed to avoid the need of a preservative to prevent microbial contamination.

Propofol is currently used as an anaesthetic and sedative given in the form of a one per cent injectable emulsion.

Should phase III have passed standards required by the US Food and Drug Administration, SkyePharma would have received $45 million in milestone payments and received between 30 per cent and 60 per cent of Endo’s sales, should the drug have reached the market.

Nevertheless, SkyePharma decided to end the joint-venture with Endo in regards to the North American market and states that it is “is evaluating its options worldwide for this product, which remains under strategic review”.

Despite the termination of the joint venture, SkeyPharma states that a separate agreement over the development of DepoDurTM, a sustained release injectable version of morphine, will not be affected.

Earlier this month, SkyePharma posted a net loss of $90 million.

Propodol IDD-DTM passed phase II development in 2004.

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