GSK signs 3 bn Swiss franc insomnia research deal with Actelion
British pharmaceutical giant GlaxoSmithKline (GSK) said on Monday that it had signed a deal with Swiss peer Actelion, worth a potential 3.3 bn Swiss francs (2.0 bn euros) for insomnia research.
By Agencies |
ZURICH : British pharmaceutical giant GlaxoSmithKline (GSK) said on Monday it had signed a deal with Swiss peer Actelion worth a potential 3.3 bn Swiss francs (2.0 bn euros) for insomnia research.
Under the deal, GSK will contribute 40 percent of the costs of researching and commercialising Actelion's insomnia treatment almorexant, which is currently in phase 3 of clinical trials.
Actelion will receive an upfront payment of 150 mn Swiss francs, with a further 415 mn francs up for grabs if the insomnia tests prove satisfactory, GSK said in a statement.
The Swiss company will also be eligible for further milestone payments of up to 2.735 bn Swiss francs should almorexant prove successful in all tests and hit its sales targets, making the deal worth a potential total of 3.3 bn francs.
"Almorexant has the potential to fundamentally change the treatement of sleep disorders," Actelion chief executive officer Jean-Paul Clozel said.
GSK "is the ideal partner to work with Actelion to rapidly bring this novel medicine -- with the potential to restore normal physiological sleep -- to insomnia patients all around the globe," he added.
GSK "is the ideal partner to work with Actelion to rapidly bring this novel medicine -- with the potential to restore normal physiological sleep -- to insomnia patients all around the globe," he added.
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