J&J sells pain reliever franchise for $1B; Eyecare company announces results of PhIII trial;

>J&J's ($JNJ) sale of the Nucynta franchise of non-opioid pain relievers for $1 billion has closed. Depomed ($DEPO) acquires various formulations of the medication, including extended release and immediate release versions, as well as an unlaunched oral formulation. The franchise generated sales of $172 million in 2014. More

> Kala Pharmaceuticals said its nanoparticle formulation to treat inflammation and pain following cataract surgery met all its primary efficacy endpoints in a Phase III trial. More

> Particle Sciences has received a patent for its SATx drug delivery platform to combine nanoparticles with surface-bound large molecules. More

> Cynapsus Therapeutics, a developer of sublingual thin film strips for Parkinson's, announced the completion of a $21 million financing round led by OrbiMed, Aisling Capital and Venrock. The company hopes to file a New Drug Application in 2016. More

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