GlaxoSmithKline (NYSE: GSK) will pay a California drug firm as much as $186.5 million for non-U.S. rights to a potential Parkinson’s disease treatment.
GSK will pay California-based Impax Pharmaceuticals an upfront fee of $11 million for non-U.S. and non-Taiwan rights to the compound IPX066. Impax also could receive as much as $175 million in milestone payments plus royalties. Impax will manufacture the drug.
IPX066 currently is in Phase III clinical trial. Impax anticipates filing a New Drug Applixcation for it in the U.S. late next year.
GSK operates its U.S. headquarters in RTP.
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