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Merus Labs International, Novartis sales and marketing update
July 16, 2012 7:00 AM UTC
Merus acquired from Novartis rights to manufacture and market overactive bladder (OAB) drug Emselex darifenacin in Canada and the EU, excluding France, Spain and Italy. Merus funded the acquisition with cash on hand and a debt facility from PDL BioPharma Inc. (NASDAQ:PDLI, Incline Village, Nev.). Merus said the drug had about $23 million in revenues in the acquired territories. Details were not disclosed. Byron Capital Markets advised Merus. ...