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 - Get Report).
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
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