Irvine-based Allergan Inc. is licensing a potential pain drug for the body’s nervous system to Bristol-Myers Squibb Co. in a deal that could be worth more than $400 million.
Allergan, which makes medical cosmetics and eye and skin drugs, struck a deal for Bristol-Myers to develop a compound known as AGN-209323, a pill that’s ready for secondary trials.
The company is getting an initial payment of $40 million and potential payments of up to $373 million if the compound is successful. Allergan also would receive royalties if the compound is commercialized.
Bristol-Myers gains the rights to develop, make and market the compound for just about all uses except for those related to the eye, which Allergan retains.
AGN-209323 is being pursued as a treatment for neuropathic pain, a complex condition where the body’s nerves send signals of pain to the brain.
Neuropathic pain can stem from damaged tissue and other conditions. “Phantom limb” syndrome is one type of neuropathic pain where the body sends the brain pain signals from an arm or leg that’s no longer there.
Allergan developed the compound with France’s ExonHit Therapeutics, which is getting $4 million up front and another $32 million in milestone payments in the deal with Bristol-Myers.
In other Allergan news, a jury in Santa Ana on Tuesday decided the company wasn’t liable in the death of a 7-year-old Texas girl being treated for cerebral palsy with Botox.
The girl had received large doses of Botox for about a year to reduce debilitating limb spasticity and died in 2007.
Botox is Allergan’s flagship drug and is best known as a cosmetic wrinkle remover. The drug also is approve to treat muscle spasms.
The drug isn’t specifically approved for use in children, but doctors can prescribe for other uses as they see fit.
The girl’s mother charged that her daughter died as a result of an overdose of Botox. She alleged Allergan failed to adequately warn the girl’s pediatrician of the drug’s risks.
The jury decided Allergan provided enough warning about the drug and wasn’t liable in the death.
