Orion, Abbott sales and marketing update

Orion reacquired from Abbott worldwide rights to the IV formulation of Simdax levosimendan, excluding Latin America, where the pharma retains rights. The calcium sensitizer and potassium ATP channel opener is marketed to treat acutely decompensated heart failure. Worldwide sales of Simdax were about €40 million ($56.4 million) in 2008. Abbott will receive 18 million up front, and is eligible for a $15 million milestone payment when cumulative net sales reach $12.5 million after the close of the deal. Abbott also is eligible to receive 30% royalties for 2009-2013. ...