AMA Morning Rounds: Bristol-Myers Squibb, Allergan to jointly develop drug to treat neuropathic pain

The AP (3/3) reported that "Bristol-Myers Squibb and Allergan will jointly attempt to develop a drug to treat chronic pain from tissue damage, the drugmakers said." According to the AP, "the drug is said to be ready for mid-stage human trials as a treatment for neuropathic pain, or chronic pain usually accompanied by tissue injury. It is common in people with arthritis, cancer, and nerve damage."

The Orange County Business Journal (3/3) reported that "Bristol-Myers gains the rights to develop, make and market the compound," currently known as AGN-209323, "for just about all uses except for those related to the eye, which Allergan retains." Allergan will receive "an initial payment of $40 million and potential payments of up to $373 million if the compound is successful." Reuters (3/3) and the Wall Street Journal (3/3, Becker) also covered the story.