In attempt to put behind them a disastrous chapter in pharmaceutical marketing, the two companies have agreed to a $135 million deal that ends their relationship over Exubera, the failed insulin inhaler. You may recall that Pfizer was unable to convince docs and patients to try the oversized and cumbersome device, which was mercilessly ridiculed as resembling a bong, and last month unceremoniously ended its disastrous marketing campaign.

The decision ended what was, by all accounts, a colossal failure and followed months of harsh comments from Nektar’s ceo, Howard Robin, who was repaid for his vituperativeness by learning of Pfizer’s move only after reading Pfizer’s press release. Robin quickly made clear he was very disappointed with Pfizer. Of course, this did little for Pfizer’s reputation as a partner of choice with biotechs and smaller pharmas, but Pfizer ceo Jeff Kindler didn’t seem to forecast the fallout.

Now, the two companies say they have “resolved all outstanding contractual issues in connection with Exubera and Nektar’s follow-up inhaled insulin product, which is currently in Phase I clinical development.” Nektar will receive a one-time payment of $135 million and in the event that a new partner is selected, Pfizer will transfer its remaining rights and all economic benefits, including the Exubera new drug application and investigational NDA and all foreign regulatory filings and applications, continuation of ongoing Exubera clinical trials and certain distribution activities.

The two buddies issued this statement: “This agreement demonstrates the industry leadership of Pfizer and the company’s desire to work with world-class biotechnology partners like Nektar. The agreement strengthens our relationship and demonstrates our ability to work together to craft a solution that allows Nektar the ability to pursue additional commercial opportunities for the Exubera and NGI inhaled insulin franchises. Further, we look forward to advancing our joint development of PEGylated human growth hormone therapy to treat short stature and growth problems.”

Yes, they are the best of friends.