Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Forest Labs' Unit To Acquire Royalties For Bystolic From Janssen Pharmaceutica

RELATED NEWS
Trade FRX now with 

Forest Laboratories Inc (FRX: Quote) Monday revealed that its wholly-owned subsidiary unit, Forest Laboratories Holdings Limited, has entered into a definitive agreement with Janssen Pharmaceutica NV, wherein the subsidiary unit will acquire all U.S. patents and other U.S. and Canadian intellectual property for Bystolic (nebivolol), which is currently approved in the United States for the treatment of hypertension.

FRX revealed that its subsidiary unit has agreed to make a one-time cash payment of $357 million to Janssen Pharmaceutica NV, and, in turn, Janssen Pharmaceutica will assign all U.S. patents and other U.S. and Canadian know-how covering Bystolic, including the nebivolol composition of matter patent in the U.S. to the subsidiary unit of FRX.

The company further revealed that the subsidiary unit will amortize the one-time cash payment over the remaining patent life of Bystolic.

Click here to receive FREE breaking news email alerts for Forest Laboratories Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months. Eurozone inflation slowed as expected in August on falling energy prices giving room for the central bank to support demand and economic recovery without stoking inflation and help the region to create more jobs. The unemployment rate remained unchanged at an elevated level in July. Nonetheless, it was at the lowest since September 2012.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.