Forest Laboratories, Inc. a U.S.-based pharmaceutical company, and Daiichi Sankyo, Inc. have terminated their co-promotion agreement for Azor (amlodipine and olmesartan medoxomil), Daiichi Sankyo's fixed-dose combination of two antihypertensives, the calcium channel blocker amlodipine besylate and the angiotensin receptor blocker olmesartan medoxomil.
Forest will record a one-time charge of $44.1 million which is composed of a one-time payment to Daiichi Sankyo of $26.6 million related to the termination and $17.5 million related to the unamortized portion of the initial upfront payment.
The details can be read here.
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