News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Columbia Laboratories, Inc. (CBRX) Announces Sale Of IP And Technology For Legatrin P.M. To Lil' Drug Store Products


8/6/2014 11:16:33 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

BOSTON, Aug. 6, 2014 /PRNewswire/ -- Columbia Laboratories, Inc. (Nasdaq: CBRX) today announced that Lil' Drug Store Products exercised its option to purchase the Intellectual Property Rights and Technology related to Legatrin P.M. Columbia licensed this product to Lil' Drug Store Products approximately fourteen years ago and has received annual royalties. Based on a predetermined formula, Columbia will receive approximately $2.2 million for the sale.

"Columbia has a long history of developing products for other companies and licensing the product and associated IP to commercial partners. We are pleased to have completed this transaction which enables us to monetize our royalty stream and strengthen our balance sheet," said Frank Condella, President and Chief Executive Officer of Columbia Laboratories.

About Columbia Laboratories
Columbia Laboratories, Inc. provides pharmaceutical development, clinical trial manufacturing, and advanced analytical and consulting services to the pharmaceutical industry. The Company has a successful heritage in pharmaceutical research and development, particularly in women's healthcare and drug delivery. Its most successful product to date, CRINONE® 8% (progesterone gel), is marketed by Actavis, Inc. in the U.S. and by Merck Serono S.A. in over 60 additional countries worldwide. For more information, please visit www.columbialabs.com.

Investor Relations Contact:
MBS Value Partners
Katja Buhrer or Betsy Brod
+212 661 7004
katja.buhrer@mbsvalue.com

SOURCE Columbia Laboratories, Inc.

Help employers find you! Check out all the jobs and post your resume.

Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES