Pfizer ends deal with Pain Therapeutics to develop Durect's pain drug

October 27, 2014 2:21 PM

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Pfizer ends deal with Pain Therapeutics to develop Durect's pain drug

(Reuters) - Pfizer Inc ended an agreement with Pain Therapeutics Inc to develop and market Durect Corp's pain drug, Remoxy, sending the stocks of the two smaller drugmakers plummeting.

Durect's shares fell as much as 46 percent in early trading on Monday, while Pain Therapeutics stock slumped 61 percent.

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