US drugmaker Watson Pharmaceuticals has entered into an agreement to expand its Women's Health brand product portfolio with the acquisition of the exclusive US rights to Columbia Laboratories' bioadhesive progesterone gel products currently marketed under the trade names Crinone and Prochieve for the indications of infertility and secondary amenorrhea.
Deal includes equity stake in Columbia
Under the terms of the deal, Watson will pay Columbia an initial $47 million and will receive exclusive progesterone gel product rights in the USA and 11.2 million newly-issued shares of Columbia common stock. Watson will also have the right to designate a member of Columbia's board of directors. Additional contingent payments related to the successful completion of clinical development milestones, receipt of regulatory approvals and product launches could total up to around $45.5 million. Watson will also pay Columbia a royalty on its sales of the progesterone gel product and any next generation products.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze