InSite, Merck deal

InSite regained North American development rights to AzaSite Xtra 2% azithromycin ophthalmic solution from Inspire Pharmaceuticals Inc., which Merck acquired in 2011. A joint development committee between InSite and Merck will oversee development and regulatory submissions of the product in the U.S. and Canada. Merck has an option to acquire AzaSite Xtra for an undisclosed upfront payment plus royalties. InSite said it has completed all formulation, stability and toxicology work to support worldwide IND submissions for AzaSite Xtra, which is in development to treat ocular infections. The companies could not be reached for details. ...