GSK To Hand Over $227M For Basilea Eczema Drug

Law360, New York (June 12, 2012, 2:24 PM EDT) -- A GlaxoSmithKline PLC unit will get patent, trademark and distribution rights for a popular eczema drug, beefing up its skin care business in exchange for an initial payment of £146 million ($227 million) to Swiss biotech firm Basilea Pharmaceutica Ltd., the companies said Monday.

The Swiss company could see an additional payment of up to £50 million if Toctino is greenlit by the U.S. Food and Drug Administration for use in the U.S., where it is in its third phase of trials, GSK subsidiary Stiefel Laboratories...
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