Alpharma Inc. (ALO) to Sign Licensing Deal With Institut Biochimique to Market Flector in the U.S.; $100M Payment to be Made at Closing of Deal
8/21/2007 7:52:23 AM
BRIDGEWATER, N.J. (AP) -- Drug developer Alpharma Inc. said Tuesday it will obtain an exclusive license to market privately owned Institut Biochimique SA's Flector pain patch in the United States. The company plans to begin selling the product in the U.S. in early 2008. It plans to double is sales force to support the launch and expects a $20 million, or 30 cents per share, charge during the second half of 2007. Alpharma said it expects Flector sales to start contributing positively to earnings in the second half of 2008.
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