CEDAR KNOLLS, N.J. & REDWOOD CITY, Calif.--(BUSINESS WIRE)--EKR Therapeutics, Inc. and PDL BioPharma, Inc. (Nasdaq: PDLI) today announced that they have entered into an agreement under which EKR would acquire the rights to PDL’s cardiovascular products, consisting of Cardene® I.V. (nicardipine hydrochloride), Cardene SR® and new formulations of Cardene in development, as well as Retavase® (reteplase) and the development product ularitide. Under the terms of the agreement, PDL would receive cash payments of $85 million at closing, up to an additional $85 million in development and sales milestones for the new Cardene formulations, as well as royalties on sales of the new Cardene formulations and ularitide.
