Tuesday, August 2, 2011

MAP Pharma gets $20M payment for FDA filing

MAP Pharmaceuticals Inc. will be paid $20 million by partner Allergan Inc. for filing a drug application with the Food and Drug Administration.
Mountain View-based MAP (NASDAQ: MAPP) said the FDA accepted its application for the inhaled migraine drug Levadex. The successful submission of that application triggers a $20 million milestone payment under MAP’s deal with Allergan.
The “goal date” for the FDA to review the application is March 26, 2012.

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