(Reuters) — Forest Laboratories Inc (FRX.N) said on Monday it has acquired the intellectual property rights to hypertension drug Bystolic from Johnson & Johnson’s (JNJ.N) Janssen unit for $357 million cash, eliminating the need to pay future royalties.
Forest and J&J have also terminated the licenses in Canada for Bystolic and Savella, a treatment for fibromyalgia. Forest said it has established a Canadian subsidiary that will take over commercialization of both products.
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