Raleigh-based BioDelivery Sciences International (Nasdaq: BDSI) is due a $50 million milestone payment from Endo International triggered by U.S. Food and Drug Administration approval of their opioid treatment for pain, Belbuca. BDSI saw its stock rise more than 12 percent on the news in morning trading.
The FDA has approved Belbuca( buprenorphine) buccal film for use in patients with chronic pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate. It will be commercially available in the U.S. during the first quarter of 2016.
“The availability of new, convenient and flexible treatment options is important for patients whose lives are burdened by chronic pain, a debilitating condition that affects more Americans than diabetes, heart disease and cancer combined,” said Richard L. Rauck, M.D., Director of Carolinas Pain Institute, Winston Salem, NC, said in a statement.
BioDelivery Sciences says the milestone payment will provide it with capital to run its business through 2017. The company will also receive royalty payments once sales of the drug begin.
BSDI shares traded at $5.93 midmorning Monday, up 65 cents or more than 12 percent.