Unimed, Solvay Duphar deal

Solvay Duphar licensed from UMED the product rights to Serc (betahistine hydrochloride) in Canada, Australia and South Africa for $1.4 million. UMED posted $1 million in sales of the vertigo treatment in these territories in 1995.

Concurrently, UMED licensed from Solvay Duphar the rights to know-how and manufacturing for Serc in the U.S. UMED will pay royalties to Solvay Duphar on U.S. sales. ...