POSTS - GlaxoSmithKline: Drug giant strikes deal with India’s Dr. Reddy’s, terminates one with Massachusetts firm
GlaxoSmithKline (NYSE: GSK) struck a drug development and distribution deal Monday with India-based Dr. Reddy’s even as it terminated a cancer drug collaboration with a Massachusetts firm.
The GSK deal with Dr. Reddy’s includes “exclusive access” to the latter’s products in emerging markets plus a pipeline of future drugs, according to Dow Jones.
One analyst described the deal as a winner "as there's little risk taken, it generates sales immediately and builds on the duo's R&D relationship and allows GSK to expand in emerging markets with a ready made mix of products."
Also Monday, GSK called off its drug development deal with Synta Pharmaceuticals. Synta announced in February that it was terminating the Phase III clinical trial of a drug it was developing with GSK. GSK had already paid $10 million to Synta.
The drug under development focused on melanoma. Another trial was underway using it as a potential treatment for prostate cancer, according to the Massachusetts High Tech.
GSK, one of the world's largest pharmaceutical companies, maintains its U.S. headquarters in RTP. It employs some 5,000 people in the Triangle area.
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