NEW YORK (AP) —Forest Laboratories Inc. said Monday it signed a deal to sell Nycomed's developing chronic bronchitis drug Daxas in the U.S.
Under the deal, Forest Laboratories will pay Nycomed $100 million up front, plus future milestone payments. Nycomed will also receive royalties on U.S. sales, while Forest assumes responsibility for marketing the drug in the U.S.
Nycomed asked the FDA to approve Daxas in July and is awaiting a response.