Inspire buys rights to nasal spray
Published: Wed, Feb. 22, 2006 12:00AM
Modified Wed, Feb. 22, 2006 02:51AM
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closeInspire Pharmaceuticals bought the rights to develop and market a nasal spray of epinastine, an allergy drug made by German-based Boehringer Ingelheim International.
Epinastin is the active ingredient in Elestat, eye drops that are already marketed by Inspire, a Durham-based drug-development company.
Under the agreement, Inspire will pay a $2.5 million upfront license fee, fund all development and pay royalties on sales if the new allergy medication receives regulatory approval.
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