BASEL, Switzerland ( TheStreet) -- Novartis (NVS - Get Report) signed an agreement to sell the U.S. rights to Enablex, a treatment for symptoms of overactive bladder, for $400 million to Warner Chilcott (WCRX).
The transaction is expected to close by the end of October.
Novartis, in a statement Friday, said it will receive an upfront payment of $400 million from Warner Chilcott, with the potential for additional milestone payments up to $20 million.
Novartis said it retains the rights to the drug worldwide except in the U.S.-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.