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GSK, Valeant ink $820M epilepsy deal
Valeant Pharmaceuticals will pocket a $125 million upfront fee from GlaxoSmithKline in exchange for a collaboration deal on the epilepsy drug retigabine. Altogether the pact could be worth up to $820 million if the drug achieves all of its milestones. Valeant retains up to half of the profits from any sales in the U.S. and several other countries. Glaxo also gains the rights to VRX698 and the other back-up compounds from the potassium channel opener discovery program.
Retigabine has already completed two Phase III trials and is in a study for post-herpetic neuralgia, a painful complication of shingles. The developers say they will file for European approval in early 2009.
"There is a significant need for novel anti-epileptic drugs, as almost one-third of patients with epilepsy continue to experience seizures despite treatment with currently available medications," commented Steve Stefano, senior vice president, GSK U.S. NeuroHealth Division. "We believe that retigabine could potentially play a significant role in improving the management of epilepsy and is a welcome addition to GSK's portfolio."
- check out the release
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Comments
By Anonymous | Posted 11:37pm | December 10, 2008
another valeant deal when they make the market at consumer's cost. yes there is a need for a new anti-convulsant drug SINCE VALEANT TOOK THE ORIGINAL MYSOLINE OFF THE MARKET AND CREATED TEST CASEs. with people experiencing withdrawal symptoms caused by valeant and the old fda administer. what's to lose but lives during a forced study. it's time for lawsuits. due to their negliengce. i have had three hospital stays since forced to take their inferior product after 15 years of seizure free. others are experiencing this too. and the company promises to do the old formula. yeah. when? sholdn't the government be looking into this? it's been 9 months of lies by the company and many costly hospitalizations by its victims. class action suit? why not they did it to you?
