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Law firm advises UCB Pharma on sale

21 Apr 2009

Belgian pharmaceutical company UCB Pharma has taken advice from a law firm on the sale of the rights to Equasym IR and XL - otherwise known as Methylphenidate HCl.

The counsel applied to the €55 million trade of the global rights to the attention deficit hyperactivity disorder (ADHD) drugs outside of the US, Canada and Barbados.

Law company King and Spalding helped UCB in the deal with Shire Pharmaceutical Ireland, which was concluded on March 31st.

As part of the agreement, the buyer will pay the Belgian company undisclosed milestone payments if it meets certain pre-determined targets.

"We are pleased to be able to draw on our international and cross-practice expertise to facilitate the transaction for UCB," explained King and Spalding associate Jack Capers, who led the legal team.

He added the pharmaceutical firm is a longstanding client and the deal was a significant step for his company.

Meanwhile, Galapagos and Merck have entered into an agreement over the development of treatments for inflammatory diseases.