Alexza Pharmaceuticals reacquires US and Canadian rights for AZ-004 (Staccato loxapine).

Alexza Pharmaceuticals Inc (Alexza) has reacquired the US and Canadian rights for AZ-004 (Staccato loxapine) from Biovail Laboratories International SRL (BLS), a wholly-owned subsidiary of Valeant Pharmaceuticals International Inc (Valeant). AZ-004 is being developed for the rapid treatment of agitation in schizophrenia or bipolar disorder patients. Alexza previously established a collaboration arrangement with BLS, to develop and commercialize AZ-004 in the US and Canada, for which Alexza received a $40 M upfront payment. On 28 Sep 2010, Biovail Corp and Valeant Pharmaceuticals International completed their merger. As part of the review of the merged company's commercial and …