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Mr. Saunders said the company plans to use the $600 million remaining after stock repurchases to buy more drugs to fill out the company's offerings in gastrointestinal disorders, cardiovascular disease and hospital infections. "It would give us a full portfolio of products," Mr. Saunders said.
He said that the company plans to buy the U.S. rights to the Saphris schizophrenia treatment from Merck & Co. for $240 million upfront, plus additional payments if the drug meets certain sales targets.
He said that the company plans to buy the U.S. rights to the Saphris schizophrenia treatment from Merck & Co. for $240 million upfront, plus additional payments if the drug meets certain sales targets.