BRIEF-Aralez acquires U.S., Canadian rights to Zontivity from Merck

Wed Sep 7, 2016 8:52am EDT
 
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Sept 7 (Reuters) - Aralez Pharmaceuticals Inc

* Aralez acquires united states and canadian rights to Zontivity from Merck

* Says Merck will continue to distribute product on behalf of Aralez

* Says asset purchase agreement entered into between Merck, and Aralez Pharmaceuticals Trading DAC, unit of Aralez

* Says asset purchase agreement included an initial upfront payment of $25 million, which was paid from cash on hand

* Product rights, packaging, labeling and other responsibilities transferred to Aralez Pharmaceuticals Trading DAC Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)