Forest, moksha8 in commercialization deal
Forest Laboratories Inc. (NYSE:FRX) granted moksha8 Pharmaceuticals Inc. (Wayne, Pa.) exclusive commercialization rights in Latin America for antidepressant Viibryd vilazodone and potentially other Forest products. Forest, which will pay moksha8 up to $125 million based on milestones over two years, has an option to acquire moksha8 at the end of the two-year period. moksha8 shareholders have a put option, which is contingent upon meeting certain undisclosed business objectives.
Separately, moksha8 and Watson Pharmaceuticals Inc. (NYSE:WPI) agreed to add five branded generic CNS drugs to a 2010 commercialization deal under which moksha8 has exclusive rights to commercialize 12 Watson products in Brazil and Mexico. Watson is eligible for milestones and royalties. moksha8 also bought out Watson's minority stake for about $47 million. Watson acquired the stake in 2010 when it invested $30 million in moksha8's series D round. moksha8, which was founded in 2007, focuses on partnering to sell branded drugs, novel therapeutics approved elsewhere, and branded generics into Latin American markets (see BioCentury, Oct. 11, 2010). ...