- Allergan (NYSE:AGN -0.3%) unit Watson Laboratories notifies Adamis Pharmaceuticals (ADMP +2.7%) that will terminate its license agreement to commercialize Adamis' Epinephrine Pre-Filled Syringe (PFS) for the emergency treatment of anaphylaxis (life-threatening allergic reaction) in the U.S. The timing of Watson's notice enables it to avoid paying a nonrefundable upfront fee and milestone payment.
- Adamis has struggled to achieve FDA approval of the product. Last month, it received its second Complete Response Letter from the agency due to insufficient human factors and reliability data. The company is working on the issues and expects to refile its New Drug Application (NDA) later this year.
- Read now Adamis Pharmaceuticals: The CRL Post-Mortem