Novartis Sells U.S. Rights to Enablex for $400 Million
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Sep 24th 2010 6:46AM
Updated Sep 24th 2010 6:50AM
Novartis (NVS) agreed to sell the U.S. rights to bladder medicine Enablex for $400 million.
Ireland-based Warner Chilcott will take over the marketing, sales and manufacturing of the drug in the United States, Novartis said in a statement. The deal is expected to close by the end of October.
Novartis may also receive "milestone payments" of as much as $20 million.
In 2005, Novartis agreed to work with Procter & Gamble Pharmaceuticals to promote and develop the drug in the United States. Warner Chilcott purchased Procter & Gamble Pharmaceuticals in October 2009.
Ireland-based Warner Chilcott will take over the marketing, sales and manufacturing of the drug in the United States, Novartis said in a statement. The deal is expected to close by the end of October.
In 2005, Novartis agreed to work with Procter & Gamble Pharmaceuticals to promote and develop the drug in the United States. Warner Chilcott purchased Procter & Gamble Pharmaceuticals in October 2009.
