Extended!
Columbia Labs extends agreement with Merck Serono (MKGAY.PK) for CRINONE ex-U.S. into 2020 (CBRX) 0.58 : Co has amended its license and supply agreement with Merck Serono, a division of Merck KGaA (MKGAY.PK), Darmstadt, Germany, for CRINONE (progesterone gel) through May 2020, representing an extension of five years beyond the current term, which was due to expire in May 2015. CRINONE is currently approved in over 60 countries, including a number of emerging markets such as China, where it was approved at the end of 2008. Merck Serono has marketing rights worldwide except the United States, where CRINONE is marketed by Actavis (ACT). Under the terms of the amended license and supply agreement, Columbia will remain the sole supplier of CRINONE to Merck Serono and will continue to sell CRINONE to Merck Serono on a country by country basis. From 2014 through 2020, the sourcing conditions for Merck Serono will include incremental volume discounts to incentivize Merck Serono to continue developing existing markets and investing in entry into new markets.
