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Croatian pharmaceutical company Pliva sells its VoSpire drug

Izvor: HINA
Autor: ;vmic;
ZAGREB, Sept 28 (Hina) - Croatian pharmaceutical company Plivaannounced on Wednesday it had signed a contract with DavaPharmaceuticals Inc. for the sale of the drug VoSpire ER of OdysseyPharmaceuticals Inc., Pliva's US subsidiary, for a total potentialcash consideration of up to USD 67.5 million.
ZAGREB, Sept 28 (Hina) - Croatian pharmaceutical company Pliva announced on Wednesday it had signed a contract with Dava Pharmaceuticals Inc. for the sale of the drug VoSpire ER of Odyssey Pharmaceuticals Inc., Pliva's US subsidiary, for a total potential cash consideration of up to USD 67.5 million.

Under the terms of the contract, Pliva will receive an advance payment of USD 32 million and a total of USD 35.5 million after achieving certain targets.

The transaction is expected to be closed by the end of October this year and should result in an exceptional book gain of about USD 25 million in the fourth quarter, Pliva said.

Earlier this week Pliva signed a three-year contract with Pfizer Inc. for the supply of bulk azithromycin.

(Hina) vm

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