Eurand N.V., a global specialty pharmaceutical company, announced today that Eurand, Inc. and its collaboration partner, GlaxoSmithKline (NYSE: GSK), reached a significant milestone in the development of an orally disintegrating tablet formulation of an undisclosed compound.
GSK has started a registration bioequivalence study for the new formulation and will make a milestone payment of $1 million to Eurand in recognition of the initiation of this biostudy.
"We are delighted with how well this new formulation is progressing for GlaxoSmithKline," said Gearoid Faherty, Chief Executive Officer, Eurand. "Using our Microcaps(R) and AdvaTab(R) technologies, we develop fast dissolving dosage forms that make it easier for patients to take their medicine.
The new formulation for GlaxoSmithKline dissolves in the mouth in approximately 30 seconds without water and without leaving a bitter or sour taste."
GSK intends to file for marketing authorization in the United States by the end of 2007.