Gedeon Richter partners Esmya with Watson

Gedeon Richter Ltd. (Budapest:RICHTER) granted Watson Pharmaceuticals Inc. (NYSE:WPI) exclusive rights in the U.S. and Canada to develop and commercialize Esmya ulipristal ( PGL4001) for uterine fibroids. Richter will receive a $17 million license fee and is eligible for milestones and royalties. Watson plans to start Phase III testing in the U.S. in 2011. The companies will also collaborate to develop additional formulations of the selective progesterone receptor modulator (SPRM). ...