SkyePharma reacquires DepoBupivacaine rights

SkyePharma, the British pharmaceutical company, has revealed it has reacquired the rights for DepoBupivacaine, following successful negotiations with Mundipharma.

DepoBupivacaine is an extended-release version of bupivacaine, a local anaesthetic, administered as an injectable suspension using SkyePharma’s DepoFoam technology, designed to release drugs for extended periods up to several days.

SkyePharma and Mundipharma agreed a deal in April 2005 for DepoBupivacaine, for which SkyePharma received $10 million (5.4 million pounds). Now SkyePharma will pay $5 million for the marketing and distribution rights, as well as data from a phase II clinical trial.

Frank Condella, SkyePharma’s chief executive, stated: “DepoBupivacaine is the most important near-term product in the injectables pipeline and therefore a key component of the value of this business unit.”

“During our negotiations to divest this unit we have identified the desirability of clarifying the commercial rights to this key product and we are gratified that we are now in a position to offer unrestricted global rights to DepoBupivacaine (outside Japan) to parties interested in acquiring the injectables unit,” he added.

Mundipharm and SkyePharma are still partners for the marketing of DepoCyt, a treatment for lymphomatous meningitis.

Last month, Frank Condella revealed the company planned to divest its injectables business in order to release funds and reduce costs to help focus SkyePharma’s resources in developing its pipeline of oral and inhalation products.

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