CHADDS FORD, Pa., Jan. 28, 2011 /PRNewswire/ — Endo
Pharmaceuticals (Nasdaq:
ENDP) announced today that it has entered into a collaboration
agreement with European-based Orion Corporation for the discovery,
development and commercialization of assets in Oncology.

The formation of this R&D collaboration partnership allows
the companies to bring forward a total of eight “discovery phase”
candidates by combining an equal number of programs. The
collaboration also allows both companies to exclusively license the
others’ development-ready programs at pre-determined stages and
share all development costs.

“This alliance marks another milestone in the transformation of
Endo’s R&D platform,” said Dr. Ivan Gergel M.D., executive vice
president, Research & Development at Endo Pharmaceuticals. “We
are excited about this opportunity to collaborate with an
experienced partner like Orion and look forward to continuing to
bring new therapies and healthcare solutions to payers, physicians
and patients. This type of collaboration fits well  into our
new, efficient and effective virtual R&D model.”

Dr. Reijo Salonen, senior vice president of Orion Corporation’s
Research and Development, commented: “I am very pleased with the
collaboration agreement with Endo. This will immediately extend the
Oncology R&D pipelines of both companies. The agreement is also
perfectly in line with Orion’s  R&D strategy to
 focus on risk-sharing partnerships. We look forward to
developing new cancer therapies for the patients jointly with
Endo.”

The companies will co-develop the assets coming out of this
collaboration and share all development costs.  Orion will
have marketing rights in Europe, including Russia, while Endo will
retain marketing rights for North America. The companies will pay
cross royalties to each other on sales from their respect

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