CHADDS FORD, Pa. (AP) — Endo Pharmaceuticals Holdings Inc.
said Wednesday that it is ending a partnership on an experimental back pain
drug.
Endo announced June 30 that the drug, axomadol, did not meet
its main goal in a clinical trial that tested its ability to treat moderate to
severe chronic low back pain. Endo licensed axomadol from German drugmaker
Grunenthal in February 2009. The companies did not disclose financial terms of
that agreement, but Endo gained the rights to develop and market the drug in
the U.S. and Canada.
The stock fell 59 cents to close at $31.81 in Monday
trading. It bounced back aftermarket, rising 59 cents to $32.40.