Drug Royalty, Ethical deal

ETHCY reached an agreement to repurchase the royalty interests for certain of its products from DRI for $11.6 million. ETHCY will acquire the royalty interests on worldwide sales (excluding Canada) of Diltiazem Multipor, Morphine Multipor and Morphine Rhotard tablets, and its estradiol/norethisterone combination transdermal patches. ETHCY also will reacquire royalty interests on U.S. sales of estradiol patches and nifedipine formulations.

After the agreement closes in September, DRI will not own any rights to ETHCY products outside of Canada. In Canada, DRI will retain rights to 15 percent of ETHCY's royalties for selected products. ...