Endo Enters Agreement With Taiwan Liposome To Commercialize TLC599

(RTTNews) - Endo International plc (ENDP) said its unit Endo Ventures has executed an agreement with Taiwan Liposome to commercialize TLC599, an investigational product. TLC599 is an injectable compound in phase 3 development for the treatment of osteoarthritis knee pain. Taiwan Liposome will primarily be responsible for the development of the product and Endo Ventures will primarily be responsible for obtaining regulatory approval and commercialization of the product in the United States.

Upon receipt of regulatory approval, Endo will have exclusive rights to manufacture, market, sell and distribute the product in the United States. Taiwan Liposome will receive an upfront payment of $30 million and will be eligible to receive up to an additional $110 million based on the achievement of certain milestones.

Endo International noted that the upfront payment of $30 million will be expensed in the second quarter as acquired in-process research and development. This expense was not reflected in the company's second quarter financial guidance.