I'm curious, what happens when say, for instance,

I'm curious, what happens when say, for instance, B is licensed for use as an anti infective coating on devices and a year or two later the ctix is bought out by a different big fish? Does the license just transfer to the new owner? Do they usually renegotiate terms at that point--or offer to buy back the license from the original purchaser (if it's in their interest to do so)?

I assume it's fairly straight-forward but have been wondering for a while how that works.