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Warner Chilcott to acquire topical drug from NexMed

Posted on: Wed, 04 Feb 2009 08:10:00 EST

Symbols: WCRX

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Feb 04, 2009 (Datamonitor via COMTEX) --
WCRX | Quote | Chart | News | PowerRating -- Warner Chilcott Company, a subsidiary of Warner Chilcott, has entered into an agreement with NexMed, a pharmaceutical and medical technology company, to acquire the US rights of NexMed's topically applied alprostadil cream for the treatment of erectile dysfunction.

As a result, the previous licensing agreement between Warner Chilcott and NexMed related to this product has been terminated.

Under the terms of the agreement, NexMed received an up-front payment of $2.5 million and is eligible to receive an additional payment of $2.5 million upon Warner Chilcott's receipt of a new drug application approval from the FDA. In addition, Warner Chilcott will pay a total of $350,000 for the manufacturing equipment for the product.

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For full details on Warner Chilcott Ltd Cl A (WCRX) WCRX. Warner Chilcott Ltd Cl A (WCRX) has Short Term PowerRatings at TradingMarkets. Details on Warner Chilcott Ltd Cl A (WCRX) Short Term PowerRatings is available at This Link.

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