GlaxoSmithKline (NYSE: GSK) has ended a partnership with Impax Pharmaceuticals that is developing a treatment for Parkinson’s disease.
Delays in regulatory approval and launch dates triggered the decision, GSK says.
According to Genetic Engineering and Biotechnology News, GSK’s decision came after Impax received a “complete response letter” from the FDA targeting the proposed treatment which is in Phase 3 clinical trials.
The ltter concerned a reinspection of an Impax production plant in California.
GSK struck a deak with Impax for rights to develop and commercialize the drug outside of the United States and Taiwan.
The deal involved an $11.5 million up-front payment and as much as another $175 million in milestone and other payments.
GSK operates its U.S. headquarters in RTP.
