BASEL, Switzerland ( TheStreet) -- Novartis ( NVS) 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

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