Forest to Acquire US Marketing Rights to Saphris® from Merck

Forest Laboratories Holdings Limited, a subsidiary of Forest Laboratories, Inc. (NYSE:FRX) this week announced that the company is acquiring exclusive rights in the United States for Saphris® sublingual tablets, a treatment for adult patients with schizophrenia or acute bipolar mania, from Merck Sharp & Dohme B.V., subsidiary of Merck & Co., Inc. (NYSE:MRK).
As quoted in the market news:

Under the terms of the agreement, Forest will make an upfront payment of $240 million and additional payments to Merck based on defined sales milestones. Merck will remain responsible for product supply. Forest will assume responsibility for continued commercialization, including completing certain post marketing studies of Saphris following a transition period, and will be the marketing authorization holder. Other details of the financial terms of the agreement were not disclosed. The agreement is expected to close in early CY2014 pending regulatory review and satisfaction of all closing conditions.

Click here for the full press release by Forest Laboratories Holdings Limited (NYSE:FRX)