BMS And Allergan Link For Pain Drug

Bristol-Myers Squibb and Allergan have formed an agreement to develop and commercialize Allergan’s AGN-209323, an oral drug in clinical development for neuropathic pain. Under the deal, Allergan grants BMS worldwide rights to the “Phase II ready” compound, except for use in products formulated for local delivery to the eye. BMS will pay Allergan $40 million up front and could owe the firm up to $373 million in milestone payments.