Forest Labs buys Bystolic rights from Janssen for $357 million
Forest Laboratories, (NYSE: FRX) says it has acquired all US patents and other US and Canadian intellectual property from Janssen Pharmaceutica, a subsidiary of US health care giant Johnson & Johnson (NYSE: JNJ), for the antihypertensive Bystolic (nebivolol), which is currently approved in the USA for the treatment of hypertension, thereby eliminating all future royalties.
Under the terms of this deal, Forest made a one-time cash payment of $357 million to Janssen, and Janssen assigned to Forest all US patents and other US and Canadian know-how covering Bystolic, including the nebivolol composition of matter patent in the USA. Forest will amortize the one-time cash payment over the remaining patent life of Bystolic. The acquisition was completed simultaneously with the execution of the agreement on March 30, the company noted.
…and terminates Bystolic and Savella licenses in Canada
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