UCB sells Somatostatine to Eumedica
Belgian drugmaker UCB has agreed to sell the worldwide rights for Somatostatine-UCB to France's Eumedica. UCB will receive a cash consideration of an average industry sales multiple for established products. Further details of the agreement were not disclosed. The product is indicated for the treatment of acute upper gastrointestinal bleeding resulting from gastric and duodenal ulcers, as well as other causes. Net sales of the drug reached 11.4 million euros ($14.9 million) in 2008.
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