Within the last 9 months, Dublin, Ireland-based
Allergan has reached an agreement to obtain international rights to both of
Merck's oral calcitonin gene-related peptide (CGRP) receptor antagonists to treat migraine. Merck apparently ran into difficulties with, among other things, liver toxicity in clinical trials, so time to unload. It gets even more intriguing:
Allergan will pay $250 million upfront - $125 upon Hart-Scott-Rodino antitrust clearance, and the other $125 million in April 2016. No news on that payment yet, and it's May. Remember Allergan just had its merger with Pfizer nixed because of the tax inversion question.