Bioglan/CeNeS deal halted

CeNeS has said that it has terminated a development and marketing dealfor a sublingual opiate spray with Bioglan, as a result of the latter firm's "failure to comply with its development obligations." CeNeS is also seeking compensation from Bioglan, which recently saw its share price collapse as a deal with Bristol-Myers Squibb was called off (Marketletter October 29). Bioglan maintains that CeNeS' complaints are without merit and that it "intends to take a robust and vigorous defence." The former also said that, on January 1, 2002, CeNeS is due to pay an unconditional fee of L1 million ($1.4 million).