Triangle, Abbott happier apart

It may not be intuitively obvious why Abbott Laboratories would willingly give back an HIV product that has produced positive Phase III data. But ABT says it mutually terminated its deal with Triangle Pharmaceuticals Inc. because their therapeutic directions have diverged since the 1999 deal was signed.

The upside for Triangle (VIRS, Durham, N.C.) is clearer, even though it is foregoing $120 million in future milestones. The company gets back three compounds that ABT helped pay to develop, while the pharma will continue to help financially. ...