Merck divests Europe, Asia rights for ophthalmic products to Santen

Merck & Co. Inc. (NYSE:MRK) will divest rights to nine ophthalmic products to Santen Pharmaceutical Co. Ltd. (Tokyo:4536) in countries in Europe and Asia Pacific, including Japan, the U.K., France, Germany and China. Merck said the products, which include intraocular pressure drugs Cosopt dorzolamide and Cosopt PF, have annual sales of about $400 million in the markets covered by the deal. Merck will receive about $600 million upfront and is eligible for up to $100 million in sales-based milestones tied to Cosopt. The deal is expected to close "in a few months." ...