Endo licenses new pain drug

Have cash, will spend.

Endo Pharmaceuticals has signed a worldwide licensing agreement with a Raleigh, N.C. drug developer for an experimental pain drug.

Chadds Ford-based Endo will pay BioDelivery Sciences International $30 million upfront as well as royalties of net sales and up to $150 million in milestone payments as progress is made on BEMA Buprenorphine, currently in Phase III clinical trials.

Pain drugs have been Endo's focus since its founding in 1997 with Opana ER, Voltaren Gel and Lidoderm among its current top-sellers.

On Thursday, Langhorne-based Entertainment Games showed the path from traditional videogame distribution to digital is awash in red ink. The small company reported a net loss of $1.39 million, or 8 cents per share, for its first quarter ended Sept. 30, compared with a loss of $350,032, or 3 cents per share, for the same quarter in 2010.

Entertainment Games acquired Heyday Games during its fourth quarter to help it follow the social gaming strategy blazed by Zynga. Jerry Klein, CEO of Entertainment Games, said: "Our first-quarter loss evidenced our commitment to spending to support this important acquisition."