May 22, 2008 -- Indevus Pharmaceuticals, Inc. today announced the signing of a License Agreement with Allergan Inc., a Canadian affiliate of Allergan, Inc., based in Irvine, CA, granting Allergan the right to market Sanctura XR(TM) (trospium chloride extended release preparation) throughout Canada. Indevus jointly granted the rights along with Rottapharm Madaus Group, an Italian pharmaceutical group, as required by a prior agreement between Indevus and Rottapharm Madaus. Indevus and Rottapharm Madaus will share equally in the proceeds from the license transaction. Under the terms of the agreement, Allergan will pay up to $9 million to each of Indevus and Rottapharm Madaus, including a $7 million up-front license fee and up to $2 million in sales threshold milestone payments. Allergan will be responsible for all regulatory and marketing activities in Canada.
The details can be read here
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