Published on 24/09/10 at 09:47am
Novartis is to sell the US rights to market its overactive bladder treatment Enablex to Warner Chilcott.
Novartis will receive an upfront payment of $400 million for Enablex (darifenacin) from Warner Chilcott, with the potential for additional milestone payments of up to $20 million, but retains rights to the drug outside the US.
The deal relates to a long-standing agreement between Novartis and Procter & Gamble, dating back to 2005. Warner Chilcott bought out Procter & Gamble's pharma division last year, and acquired with it the option to buy the Enablex rights.
Under the terms of the deal announced today, Warner Chilcott assumes rights to solely promote and develop Enablex for the US and also expects to manufacture Enablex for that market once it has been transferred to Warner Chilcott's manufacturing facility.
Enablex was approved in the US in 2004 for the treatment of overactive bladder and launched in early 2005. The product is known as Emselex in other territories.
Andrew McConaghie
Friday, September 24, 2010
Novartis sells bladder treatment rights to Warner Chilcott | InPharm
via inpharm.com
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