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Richter unit signs licensing agreement with Watson

Hungarian drug maker Gedeon Richter on Thursday said it its Swiss unit PregLem signed an exclusive licensing agreement with Watson Laboratories to develop and market a drug to treat uterine fibroids in the United States and Canada.

Watson will pay PregLem a $17 million license fee along with royalties for the drug, called Esmya. Watson will make additional payments based on the achievement of regulatory milestones. (MTI-Econews)