August 18, 2004
As reported in the New Jersey Law Journal
, Kelley Drye represented Columbia Laboratories, Inc. in the sale of its portfolio of over-the-counter (OTC) women’s healthcare products to Lil’ Drug Store Products, Inc. The transaction included an asset purchase agreement, a substantial supply agreement, a professional promotion agreement and patent licenses.
The Lil’ Drug Store purchased global rights for two of Columbia’s products and foreign marketing rights for an additional product. The companies executed a five year supply agreement and a two-and-a-half year agreement for Columbia’s sales force to continue to promote these OTC products, together with Columbia's remaining prescription products portfolio, to OB/GYNs in the United States. Columbia is entitled to payments as well as ongoing revenues from the manufacture and sale of products to Lil’ Drug Store, promotional fees under a professional services agreement and royalties on product sales.