Covis Pharma Buys Glaxo Portfolio

Covis Pharma -- a Switzerland-based pharmaceutical company backed by Cerberus Capital Management, Princeton Biopharma Capital Partners and Bourne Capital Partners -- is buying the U.S. commercial rights for several drugs from GlaxoSmithKline. Terms of the agreement were not disclosed. GlaxoSmithKline will retain the existing rights for the products in countries outside the United States.

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