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

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

More from Stocks

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Abiomed Stock Should Rise Some 12% From Here, Piper Jaffray Analyst Says

Abiomed Stock Should Rise Some 12% From Here, Piper Jaffray Analyst Says

Video: Here Is Why Carvana Isn't Worried About Amazon

Video: Here Is Why Carvana Isn't Worried About Amazon

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat