Amarin completes asset sale to Valeant
Amarin Corp has completed the sale of its USA-based subsidiary, Amarin Pharmaceuticals, and a majority of its US products to Valeant Pharmaceuticals International. The terms of the transaction were substantially as previously announced, which was a consideration of $38 million (Marketletter February 23). Under the terms of the merger, Amarin Pharmaceuticals will become a wholly-owned subsidiary of Valeant Pharmaceuticals International.
Amarin also announced that it has settled its financial obligations to Elan, which comprised the former's $10 million obligation on a milestone relating to the development of Zelapar (selegiline).
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