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:

If you liked this article you might like

Novartis CEO Joe Jimenez to Step Down in 2018

FDA Greenlights Novartis' Gene Therapy for Leukemia

Novartis' CAR-T Gene Therapy Receives FDA Approval

Novartis AG, Sirius XM Radio, Coupa Software: 'Mad Money' Lightning Round

August's Inexplicable Selloffs Are Here: Cramer's 'Mad Money' Recap (8/17/17)