SkyePharma reacquires European rights for DepoBupivacaine from Mundipharma

By E. Janene Geiss

Philadelphia, June 30 - SkyePharma plc said Friday that it will reacquire the rights for marketing and distribution of DepoBupivacaine in Europe and other international markets excluding the United States, Canada and Japan, from Mundipharma International Holdings Ltd.

This deal is expected to simplify the ongoing divestment process of SkyePharma's injectables unit, according to a company news release.

Mundipharma remains a marketing partner for DepoCyte in Europe, officials said.

Under an agreement announced in April 2005, SkyePharma has received $10 million to date from Mundipharma, primarily to fund the phase 2 clinical trials for DepoBupivacaine.

SkyePharma said it now will pay $5 million for the marketing and distribution rights and for data generated during the phase 2 clinical program.

In November 2005, SkyePharma said it had entered into an exclusive marketing and distribution agreement with Maruho Co. Ltd. for Japan. Maruho is funding the development of the product for approval by the Japanese regulatory agency.

SkyePharma is a London pharmaceutical company.

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