A small Raleigh drug company won regulatory approval for its first product today, a pain patch for cancer patients.
Winning Food & Drug Administration approval for the patch, known as Onsolis, puts BioDelivery Sciences International in a select class of Triangle pharmaceutical companies with actual products on the market.
The patch contains fentanyl, a morphine-like drug, and can deliver a quick dose of pain relief.
BioDelivery's Swedish partner, Meda AB, has previously said it expects U.S. sales of Onsolis to top $200 million a year. Meda agreed in 2007 to pay BioDelivery as much as $90 million plus royalties for rights to sell the product in North America.
Winning FDA approval will trigger a $12 million payment from Meda to BioDelivery.
BioDelivery's stock rose 45 cents to $6.45 this afternoon. The stock has nearly tripled in the past year.