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How an FDA Approval Changes the Game for Endo and BioDelivery Sciences

Early Monday morning, Endo International PLC (NASDAQ: ENDP), in conjunction with BioDelivery Sciences International Inc. (NASDAQ: BDSI), announced that the U.S. Food and Drug Administration (FDA) approved their long-term opioid treatment, Belbuca. This drug is intended for use in patients with chronic pain severe enough to require daily, around-the-clock, long-term treatment for which alternative treatment options are inadequate.

As a result of this approval, Endo now owes a milestone payment of $50 million to BioDelivery Sciences, pursuant to their 2012 worldwide license and development agreement for the commercialization of Belbuca.

Based on current operations and...


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