Antivirals divestiture

Executive Summary

SmithKline Beecham to sell worldwide rights for the Rx antivirals Vectavir/Denavir (penciclovir) and Famvir (famciclovir) to Novartis for $1.63 bil. The deal is contingent upon FTC approval of the Glaxo SmithKline merger. Novartis will market the products with the antifungal Lamisil and its hormone replacement therapies. FDA rejected SB's attempted Rx-to-OTC switch of Denavir in 1999 and said in a March guidance it disfavors the use of such antiviral drugs in an OTC setting (1"The Tan Sheet" March 13, p. 3)