January 7, 2019 / 5:08 PM / 5 months ago

BRIEF-Durect Says Sandoz Is Terminating Development, Commercialization Agreement With Co

Jan 7 (Reuters) - DURECT Corp:

* DURECT - RECEIVED WRITTEN NOTICE FROM SANDOZ THAT EFFECTIVE JAN 27, SANDOZ IS TERMINATING DEVELOPMENT & COMMERCIALIZATION AGREEMENT, DATED MAY 5, 2017

* DURECT - SANDOZ AG WILL BE RETURNING EXCLUSIVE COMMERCIALIZATION RIGHTS TO DEVELOP AND MARKET POSIMIR IN U.S.

* DURECT - PARTIES ARE IN DISPUTE WITH REGARD TO SANDOZ AG’S OBLIGATION TO PAY TERMINATION FEE TO CO

* DURECT - RELATING TO DISPUTE WITH SANDOZ, INITIATED FORMAL DISPUTE RESOLUTION PROCESS RELATED TO TERMINATION FEE Source text: (bit.ly/2C8HE9d) Further company coverage:

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