Watson to acquire rights of progesterone products from Columbia Labs
MORRISTOWN, N.J. Watson Pharmaceuticals will buy the U.S. rights to two progesterone products used to treat infertility and menstrual problems, the drug maker announced Thursday.
Watson, better known as a manufacturer of generic drugs, will acquire the rights to Columbia Labs’ Crinone and Prochieve. Prochieve treats secondary amenorrhea, or absent menstruation, in women. Both products are bioadhesive progesterone gels undergoing phase 3 clinical trials. Watson will also acquire 11.2 million shares of Columbia’s stock.
Under the agreement, Watson will pay Columbia $47 million upfront, as well as milestone payments of up to $45.5 million and royalties.