DURECT Corporation (DRRX) announced that Indivior (INVVY) stated on December 18, 2018 that it is moving ahead with the launch of PERSERIS in the U.S. with a sales force consisting of approximately 50 representatives. While PERSERIS has been available in the U.S. since November 19, 2018, Indivior stated that the commercial launch is scheduled to take place in February 2019. Indivior stated that its PERSERIS team is currently engaged in creating payor access, growing prescriber awareness and interest, as well as establishing its INSUPPORT patient hub. Indivior reiterated its confidence in its peak net revenue goal for PERSERIS of $200 to $300M. On September 26, 2017, DURECT entered into a patent purchase agreement whereby DURECT assigned to Indivior UK Limited, an affiliate of Indivior PLC, certain patents that may provide further intellectual property protection for PERSERIS. In consideration for such assignment, Indivior made an upfront non-refundable payment to DURECT of $12.5M. Indivior made an additional $5M payment to DURECT in August 2018 following NDA approval of PERSERIS in July 2018. DURECT is also entitled to quarterly earn-out payments that are based on a single digit percentage of U.S. net sales for certain products covered by the assigned patent rights, including PERSERIS. The patent rights include granted patents extending through at least 2026.
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