GlaxoSmithKline, Valeant sign drug development deal

Source: Healthcare Digital

Date :29/08/2008 09:52:12

GlaxoSmithKline plc has signed a deal potentially worth up to US$820 million with Valeant Pharmaceuticals International to access the US drugmaker’s experimental epilepsy and pain treatments.

The alliance will boost GSK’s pipeline of experimental medicines, giving it access to a new epilepsy drug, retigabine that could reach the market in 2010.

Valeant will get an upfront payment of US$125 million for granting GSK development and commercialisation rights to retigabine which has already completed Phase III trials in patients with difficult-to-treat epilepsy.

In addition, GSK will pay Valeant up to US$545 million based on the achievement of certain regulatory, development and commercialisation milestones and the development of additional indications for retigabine.

The two drugmakers plan to submit retigabine for regulatory approval in the United States and Europe by early 2009.