Avanir Pharmaceuticals Announces Termination of License Agreement with Optinose for ONZETRA® Xsail®
ALISO VIEJO, Calif., Dec. 11, 2018 /PRNewswire/ -- Avanir Pharmaceuticals, Inc. today announced that it will terminate the license agreement with Optinose for intranasal migraine medication ONZETRA® Xsail® (sumatriptan nasal powder). Optinose, of Yardley, Pa., is a global specialty pharmaceutical company focused on serving the needs of patients cared for by ear, nose and throat (ENT) and allergy specialists.
Avanir will coordinate closely with Optinose during the transition period.
"Avanir's decision to terminate its license agreement with Optinose for ONZETRA® Xsail® will help us intensify our strategic focus on developing innovative central nervous system solutions to improve the lives of patients and their care communities," said Wa'el Hashad, Chief Executive Officer of Avanir. "From developing treatments for agitation in Alzheimer's dementia, disinhibition in traumatic brain injury, and the negative symptoms of schizophrenia, our research pipeline is focused on and dedicated to creating a future of hope and promise by addressing unmet needs that arise as a result of central nervous system disorders."
About Avanir Pharmaceuticals, Inc.
Avanir Pharmaceuticals, Inc. is a pharmaceutical company committed to delivering innovative central nervous system (CNS) solutions to improve the lives of patients and their care communities. As part of our commitment, we have extensively invested in our pipeline and are dedicated to advancing CNS treatments in areas of high unmet medical need. For more information about Avanir, please visit http://www.avanir.com.
Avanir is a subsidiary of Otsuka America, Inc. (OAI), a holding company established in the U.S. in 1989. OAI is wholly owned by Otsuka Pharmaceutical Co., Ltd., a global healthcare company with the corporate philosophy: 'Otsuka-people creating new products for better health worldwide.'
Otsuka researches, develops, manufactures and markets innovative and original pharmaceutical products for the treatment of diseases and nutraceutical products for the maintenance of everyday health.
In pharmaceuticals, Otsuka is a leader in the challenging area of mental health and also has research programs on several under-addressed diseases including tuberculosis, a significant global public health issue. These commitments illustrate how Otsuka is a "big venture" company at heart, applying a youthful spirit of creativity in everything it does. Otsuka Pharmaceutical and its related companies employ approximately 31,000 people worldwide. You can visit the company's global website at https://www.otsuka.co.jp/en.
SOURCE Avanir Pharmaceuticals, Inc.