May 11, 2017 / 1:23 PM / 3 months ago

BRIEF-Durect Corp, Sandoz AG sign U.S. development and commercialization agreement for posimir

May 11 (Reuters) - Durect Corp

* Durect Corp - co and Sandoz AG, a division of Novartis, have signed a development and commercialization agreement for U.S. for posimir

* Durect Corp - under terms of agreement, Sandoz will make an upfront payment to Durect of $20 million

* Durect Corp - co remain's responsible for conducting persist Phase 3 trial, comparing posimir to bupivacaine HC1 after laparoscopic gall bladder removal

* Durect Corp - company anticipates completing dosing patients in Q3/17 for persist Phase 3 trial and expects to have top-line data shortly thereafter

* Durect - deal also includes potential for up to additional $43 million in development, regulatory milestones, up to additional $230 million in sales based milestones Source text for Eikon: Further company coverage:

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