Daiichi Sankyo punts $650M collaboration pact as Charleston Labs preps a comeback attempt on spurned pain drug
Whatever reason the FDA had in rejecting an application from Daiichi Sankyo and Charleston Laboratories for a new pain drug last February was evidently disturbing enough to persuade the Japanese pharma to abandon any comeback effort — just weeks away from a planned resubmission.
Daiichi Sankyo shrugged off the $200 million it agreed to pay the private biotech three years ago in an upfront and early cash — along with whatever it had paid in the $450 million in milestones it committed to — and handed back all US rights to the drug today.
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