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Forest Laboratories Inc's Forest Laboratories Holdings Ltd to acquire U.S. marketing rights to Saphris from Merck & Co Inc's Merck Sharp & Dohme B.V

Monday, 2 Dec 2013 09:00am EST 

Forest Laboratories Inc:Says Forest Laboratories Holdings Limited, a subsidiary of company is acquiring exclusive rights in the United States for Saphris (asenapine) sublingual tablets, a treatment for adult patients with schizophrenia or acute bipolar mania, from Merck Sharp & Dohme B.V., a subsidiary of Merck & Co Inc.Says under the terms of the agreement, Forest will make an upfront payment of $240 million and additional payments to Merck based on defined sales milestones.Says Merck will remain responsible for product supply.Says Forest will assume responsibility for continued commercialization, including completing certain post marketing studies of Saphris following a transition period, and will be the marketing authorization holder.Says other details of the financial terms of the agreement were not disclosed.Says agreement is expected to close in early CY2014 pending regulatory review and satisfaction of all closing conditions. 

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4 Mar 2015