Assertio said Dec. 12 it will sell its shingles pain drug, Gralise, to Alvogen for $127.5 million.
Under the agreement, Alvogen will pay Assertio $75 million when the sale closes and the remainder as royalty on the first $70 million in Gralise sales.
Gralise is used to treat residual pain after shingles.
Both companies expect the majority of the royalties to be paid in the first calendar year, and the deal is expected to close in January.
Read the full news release here.
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