King Pharms announces cross-license agreement with Mutual Pharmaceutical (KG) 15.97 +0.14:Co announces it has entered into a co-exclusive license agreement with Mutual Pharmaceutical. Under the terms of the agreement, each of the parties has granted the other a worldwide license to certain intellectual property, including patent rights and know-how, relating to metaxalone. The intellectual property licensed to the co relates to the potential for improved dosing and administration of metaxalone. Pursuant to the agreement, the co will pay Mutual an upfront payment of $35 mln and royalties on net sales of products containing metaxalone.
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