There has been a confirmation received from an Austin based Pain Therapeutics Inc that Pfizer Inc. (NYSE:PFE) plans to continue their working with the organization in the development program for the pain killer “Remoxy”.
About the pain killer
Pain killer “Remoxy” has been rejected twice by the United States of America Food and Drug Administration due to the concerns related to its manufacturing and getting it in the market for sale. It has also been rejected due to the chemical composition it has. Food and Drug Administration asked for two important tests to be done on this particular drug. One is to show if the modified version of Remoxy is bio equivalent in its original formation or not. And another investigation to be made is to check the potential abuse of the modified version.
Information provided by Pfizer
Pfizer Inc informed the Austin based Pain Therapeutics Inc in May that they are planning to re – evaluate their commitment to the drug’s development due to inconsistent results in trials, longer than expected time frame and also high development costs for getting the drug to the market. It was decided by Pfizer to conduct new clinical trials to address the questions which are raised by the United States of America regulator. Pfizer would continue with the additional studies which are being asked by the Food and Drug Administration.
After the launching of Remoxy
According to the information made available from a source, after the commercial launch of the drug Remoxy, the company would be receiving 20 percent royalty on the net sales of the drug in the United States of America. Pain Therapeutics would also see the supplement payments of on the entire sale made of the drug Remoxy.
