SkyePharma, Endo to stop development of Propofol anesthetic

By Elaine Rigoli

Tampa, Fla., April 21 - SkyePharma plc has agreed with its North American partner Endo Pharmaceuticals to terminate the joint development of Propofol IDD-D, an injectable anesthetic and sedative that was licensed to Endo in December 2002.

Under the agreement, SkyePharma would have been responsible for the cost of phase 3 development for Propofol IDD-D, estimated to be up to $30 million.

SkyePharma would have been eligible to receive up to $45 million in milestone payments from Endo if the product had been approved by the Food and Drug Administration, according to a news release.

Propofol is an intravenous anesthetic and sedative, supplied as a 1% injectable emulsion. It is used for induction of short-term anesthesia (typically 30 to 60 minutes) or as an infusion for sedation.

Propofol IDD-D, a 2% intravenous formulation of propofol, was designed to avoid the need for incorporation of a preservative to prevent microbial contamination.

SkyePharma said it is evaluating its options worldwide for this product, which remains under strategic review.

SkyePharma's agreement with Endo over DepoDur, the sustained-release injectable version of morphine for control of post-operative pain, is unaffected by the termination of the joint development of Propofol IDD-D, the release said.

Endo Pharmaceuticals is a specialty pharmaceutical company located in Chadds Ford, Pa.

Based in London, SkyePharma develops pharmaceutical products in the areas of oral, injectable, inhaled and topical delivery.

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