P&G (PG) Didn't Exercise Option to Develop, Commercialize Doxepin OTC Product with Somaxon (SOMX)
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In a Form 8-K filed Monday afternoon, Somaxon Pharma (Nasdaq: SOMX) disclosed on March 29th, Procter & Gamble (NYSE: PG) notified the company P&G elected not to exercise its right to negotiate with Somaxon for rights to develop and commercialize an over-the-counter pharmaceutical product containing doxepin as the sole active pharmaceutical ingredient.
Somaxon intends to seek potential collaborations with other third parties interested in rights to develop and commercialize an OTC Product.
Somaxon intends to seek potential collaborations with other third parties interested in rights to develop and commercialize an OTC Product.
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