The international pharmaceutical company Abbott has reported to purchase all the exclusive rights to manufacture and sell Elagolix.

In a meeting on Wednesday, Abbott Laboratories said that they have signed a deal worth $75 million with Neurocrine Biosciences. Neurocrine will also be entitled to a further sum of around $500 million.

Elagolix is a treatment which is basically used to cure the gynecological pain. The drug can also provide a great help for curing uterine fibroids or other problems associated with uterus at the time of pregnancy.

Health care company Abbott has set up its largest nutrition R&D facility outside of the United States at the Biopolis Research Park in Singapore. The new US $20 million (S $27-million) laboratory will focus on developing products specifically designed for Asians.

Currently, the laboratory employs forty scientists, with Abbott hoping to increase the headcount to over 60 in the next two years. Abbott said 90% of this talent pool will be drawn from Singapore and the region.

The US Food and Drug Administration is currently in the process of reviewing a new diet drug Meridia, and while a final stance is still awaited, the agency has revealed preliminary data on the drug, according to which certain patients indulging in the long term use of the drug could be exposing themselves to an increased risk of heart attacks, strokes and come other serious cardiovascular problems. The revelation is based on findings put forward by a new study.