Warner Chilcott, Novartis sales and marketing update

Warner Chilcott completed its previously announced acquisition of the U.S. rights to commercialize Enablex darifenacin to treat overactive bladder (OAB) from co-promotion partner Novartis for $400 million in cash and up to $20 million in potential milestones. The co-promotion deal between the companies was concurrently terminated. Warner Chilcott gained U.S. co-promotion rights to the muscarinic acetylcholine receptor M3 ( CHRM3; HM3) antagonist through last year's acquisition of the global pharmaceuticals business of Procter & Gamble Co. (NYSE:PG, Cincinnati, Ohio) (see BioCentury, Aug. 31, 2009). ...