Javelin Pharmaceuticals, Inc. (JAV) Inks $71 Million European Commercialization Partnership
Javelin Pharmaceuticals, Inc. announced today that it has signed an exclusive European marketing partnership for Dyloject(R) (diclofenac sodium for injection) with Therabel Pharma N.V. ("Therabel"). The contract could be worth up to $71 million in upfront, sales, and regulatory milestone payments plus a double digit royalty on future sales. "Partnering Dyloject in Europe bolsters our financial resources and extends our cash until 2010 before achieving future milestones and potential additional product partnerships. We are retaining significant upside in Dyloject's future EU growth with a high quality marketing partner while eliminating our European commercialization expenses," stated Martin Driscoll, Javelin's CEO. He…