Scolr gets milestone payment from Wyeth Consumer Healthcare

By Elaine Rigoli

Tampa, Fla., Sept. 26 - Scolr Pharma, Inc. said it achieved a development milestone, which will result in a payment under its previously disclosed development and license agreement with Wyeth Consumer Healthcare, a division of Wyeth.

The amount of the payment was not disclosed.

Scolr said it expects to report the milestone payment as research and development revenues for the quarter ending Sept. 30.

In addition, Wyeth agreed to reimburse Scolr for certain research and development costs already incurred and to pay ongoing expenses associated with development of the first product, according to a company news release.

Under the agreement, signed in December 2005, the Bellevue, Wash.-based pharmaceutical company granted Wyeth Consumer Healthcare the worldwide rights to use the company's proprietary and patented CDT drug-delivery platform for potential use in an over-the-counter formulation.

Total global sales of the market in which the product would compete are estimated at more than $8 billion, the release said.

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