Cipher Pharmaceuticals announced the Company received a Notice of Termination from Bausch Health in connection with the License, Development and Commercialization Agreement of Trulance® (plecanatide). The Notice alleges that Cipher is in breach of certain unspecified provisions of the Agreement.
Cipher initiated a strategic review process to target distribution partnerships for the Canadian commercial assets. As part of this process, the Company was in active discussions to sub-license Trulance® with multiple parties.
Cipher believes the Notice is without merit and intends to challenge it.