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Inspire receives $1.25 million milestone payment related to dry eye study

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DURHAM, N.C. — Inspire Pharmaceuticals has received a $1.25 million milestone payment from development partner Santen Pharmaceutical. The payment is linked to the completion of Santen's phase 3 trial of diquafosol tetrasodium ophthalmic solution for treating dry eye syndrome, Inspire announced in a press release.

Inspire and Santen have a collaborative agreement to license, develop and supply diquafosol in Japan, China, South Korea, the Philippines, Thailand, Vietnam, Taiwan, Singapore, Malaysia and Indonesia. Santen expects to file an application to obtain marketing approval in Japan by the end of June, the release said.

If approved by the regulatory authorities in these countries, Santen will be responsible for commercializing the product, and Inspire will collect royalties on net sales of the product, based on undisclosed rates specified in the agreement, according to the release.