GSK Pays $31.5 Million Upfront, Plus Milestones To Access Angiochem’s Rare Disease Technologies
This article was originally published in The Pink Sheet Daily
GlaxoSmithKline takes aim at neurological symptoms of lysosomal storage diseases, increasing likely future competitive pressure on Sanofi's and Shire's rare disease products.
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The pioneering U.S. biotech will look to partner its five human embryonic stem cell research programs while focusing entirely on two mid-stage cancer assets.
Even with Phase III trial delays, Glaxo pays $60 million upfront for worldwide rights to Amigal and takes a minority stake in its developer.
GlaxoSmithKline CEO Andrew Witty declared on Feb. 4 that his strategy of building a global, diversified business was delivering. And to prove his point, he announced a return to full-year sales growth in 2009 after a negative 2008, and an upbeat forecast for 2010 as well