- Forest Labs (FRX +4.2%) is acquiring the rights to the schizophrenia or acute bipolar mania treatment Saphris(R) from a subsidiary of Merck (MRK +0.2%).
- FRX will make an upfront payment of $240M.
- MRK will be due additional payments subject to the achievement of certain sales milestones.
- Other terms: "MRK will remain responsible for product supply, FRX will assume responsibility for continued commercialization, FRX will be the marketing authorization holder." (PR)
- Earlier: FRX announces "Project Rejuvenate"
Forest Labs acquires rights to schizophrenia treatment from Merck
Dec 2 2013, 10:11 ET