GSK strikes epilepsy drug development deal that could top $800M
International drug giant GlaxoSmithKline is partnering with a California firm to develop a potential treatment for epilepsy in a deal that could be worth more than $800 million.
GSK (NYSE: GSK) will pay Valeant Pharmaceuticals an upfront payment of $150 million and add more than $500 million in other payments to further development the drug retigabine.
The drug has already demonstrated “robust efficacy” in two Phase III clinical trials, the companies said in a joint statement. They plan to seek approval to sell the drug in the U.S. and in Europe next year.
Retigabine targets seizures in adults and is also being studied as a treatment for a painful complication associated with shingles called post-herpetic neuralgia.
Valeant could receive another $150 million if regulatory, development and commercial milestones are met.
“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,” said Steve Stefano, senior vice president for GSK’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.”
GSK operates one of its two U.S. headquarters in RTP and employs more than 4,000 people in the Triangle.
Copyright 2012 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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