Valeant buys Amarin unit in $38M deal
US firm Valeant Pharmaceuticals International (formerly known as ICN Pharmaceuticals) has agreed to acquire UK-headquartered Amarin Corp's US unit and most of Amarin Pharmaceuticals Inc's US products for a consideration of $38 million.
In a press statement, Valeant said it may pay another $8 million to Amarin if Zelapar (selegiline) reaches unspecified sales levels. Valeant has also assumed Amarin's $10 million Zelapar milestone obligations to Ireland-based Elan Corp. Zelapar has received an approvable letter from the Food and Drug Administration as an adjunct treatment for Parkinson's disease.
Amarin settles with Elan
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