NetworkNewsBreaks – DURECT Corp. (NASDAQ: DRRX) Shares Soar on $293M Development, Marketing Agreement with Novartis (NYSE: NVS)
Shares of DURECT Corp. (NASDAQ: DRRX) surged more than 30% in morning trade after the biopharmaceutical company announced a development and commercialization agreement with Sandoz AG, a division of Novartis (NYSE: NVS), for the development and U.S. marketing of POSIMIR®, DURECT’s non-opioid analgesic intended to provide up to three days of continuous pain relief after surgery. Per the agreement, DURECT will receive from Sandoz an upfront payment of $20 million, the potential for up to an additional $43 million in development and regulatory milestones, up to an additional $230 million in sales-based milestones, as well as tiered double-digit royalty on product sales in the United States. "We…







