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June 21, 2007

LAB Licenses Breakthrough Cancer Pain Therapy to Janssen Pharmaceutica in Europe and Africa

  • LAB International inked a transaction with Janssen Pharmaceutica related to LAB’s treatment of breakthrough cancer pain.  Fentanyl Taifun® is a fast-acting fentanyl formulation that uses the company's Taifun dry powder inhaler currently in Phase II development.

    Under the terms of this licensing and development agreement, LAB will receive a signing fee of $10.8 million, up to $33.6 million in development and regulatory milestones, and payments of commercial sales milestones. LAB says that it could receive significant royalty income on sales of the product as well as manufacturing profit.

    LAB and Janssen Pharmaceutica will collaborate on development of the product as a therapy for breakthrough cancer pain. The licensing deal covers the EU, Eastern Europe, Russia, the Middle-East, and Africa. Janssen Pharmaceutica will be the marketing authorization holder in these territories. LAB will manufacture the product for all territories. Janssen Pharmaceutica will be responsible for developing any additional indications.