Forest no longer has moksha8 option
Forest Laboratories Inc. (NYSE:FRX) no longer has an option to acquire moksha8 Pharmaceuticals Inc. (Wayne, Pa.) for $157 million. Forest gained the option under a 2012 deal in which the company granted moksha8 exclusive commercialization rights in Latin America to Forest's antidepressant Viibryd vilazodone and potentially other Forest products. Forest also will no longer be obligated to provide moksha8 financing. Under the original deal, Forest agreed to provide moksha8 $125 million in financing over a two-year period. As of Nov. 1, moksha8 had received $101.9 million from Forest. moksha8 declined to disclose details, and Forest could not be reached.
moksha8 retains commercialization rights to Viibryd and said it plans to initially launch the drug in Brazil and Mexico, but declined to disclose a timeline. The product has not yet been approved in Latin America. On Monday, moksha8 said it submitted a regulatory application for Viibryd in Brazil. The company said it is also working with Forest to include other products under the deal. ...