Barr Pharmaceuticals has signed a letter of intent to buy the rights to Organon's Mircette oral contraceptive for $142 million, while executing an end to patent litigation over a generic version of the drug. Savient Pharmaceuticals stands to gain more than $10 million from the deal. "This acquisition ensures that there will continue to be both a brand and generic version of Mircette in the marketplace, and removes the risk of a possible injunction against the continued sale of Kariva," said Bruce L. Downey, Barr's chairman and CEO.
- read this press release for more