As reported by PharmaTimes, the global pharmaceutical company, GlaxoSmithKline have gained exclusive rights to Toctino, an eczema drug from Swiss firm Basilea Pharmaceutica. The deal is part of the Swiss pharmaceutical company’s plan to move their focus onto cancer and anti-infectives treatments.
Under the deal, which has been made through Stiefel (a unit of GSK), GSK have made an upfront payment of £146million. An additional amount will be paid to Basilea if they manage to develop an oral form of the eczema treatment which is currently in Phase III trials. Steifel will thus be in control of the development, manufacturing, commercialisation and distribution of the eczema treatment.
Toctino is an approved treatment for adults who have severe chronic hand eczema and is currently distributed in Europe, Canada, Mexico, Israel and the Republic of Korea.
Basilea employees who are involved in the commercialisation and distribution of Toctino will be right to transfer to Stiefel upon completion of the agreement. There staff are based at the pharmaceutical company’s European affiliates and Swiss headquarters.
