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Valeant partners with Glaxo, eyes $825M in royalties
Aliso Viejo-based Valeant Pharmaceuticals has announced plans to team up with GlaxoSmithKline to develop and market epilepsy drug.
By Kimberly A. PorrazzoPublished: August 28, 2008 11:29 AM
Valeant Pharmaceuticals and British drug maker GlaxoSmithKline are collaborating on deal that could bring some $820 million in royalties to the Aliso Viejo-based pharmaceutical company.
At the center of the deal are the worldwide rights the investigational epilepsy drug retigabine, targeted to adults who suffer from seizures.
According to Valeant, GlaxoSmithKline will make an initial payment to Valeant of $125 million, which authorizes rights to develop and commercialize the drug. Valeant will share up to 50 percent of net profits in U.S., Canada, Australia, New Zealand and Puerto Rico as well as up to 20 percent royalty on net sales throughout rest of world.
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At the center of the deal are the worldwide rights the investigational epilepsy drug retigabine, targeted to adults who suffer from seizures. According to Valeant, GlaxoSmithKline will make an initial payment to Valeant of $125 million, which authorizes rights to develop and commercialize the drug. Valeant will share up to 50 percent of net profits in U.S., Canada, Australia, New Zealand and Puerto Rico as well as up to 20 percent royalty on net sales throughout rest of world. |
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