GSK To Sell Wellbutrin In US To Biovail For $510M

Law360, New York (May 6, 2009, 12:00 AM EDT) -- GlaxoSmithKline PLC said Wednesday it had agreed to sell rights to commercialize the antidepressant Wellbutrin XL in the U.S. to a subsidiary of its Canadian partner Biovail Corp. for $510 million.

The agreement between U.K.-based GSK and Biovail Laboratories International SRL also gives Biovail the right to launch an authorized generic version of the drug, which first opened up to generic competition in 2006.

Under the agreement, GSK will transfer the new drug application for Wellbutrin with the U.S. Food and Drug Administration to Biovail and...
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