Cipher Pharmaceuticals’ (TSX:DND; OTCBB:CPHMF) partner, Medical Futures, has launched Durela, an extended-release tramadol product, in key markets across Canada, with a dedicated sales force of about 22 representatives initially.
Larry Andrews
“With sales of more than $41 million in 2011, the Canadian tramadol market remains robust, and we believe Durela’s attributes, including once-daily dosing, fast onset and no food effect, will make it an attractive product for chronic pain sufferers,” Cipher CEO Larry Andrews said in a statement.
The launch triggers a payment of $150,000 from Medical Futures and Cipher’s 50% share of the milestone will be reflected in its financial results for the first quarter of fiscal 2012.
Durela is indicated for the treatment of moderate to moderately severe chronic pain in adults.