Share Name Share Symbol Market Type Share ISIN Share Description
GlaxoSmithKline LSE:GSK London Ordinary Share GB0009252882 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -10.00p -0.63% 1,566.00p 1,565.80p 1,566.20p 1,581.40p 1,565.20p 1,581.40p 869,355 09:27:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 30,186.0 3,525.0 31.4 49.9 77,671.52

GlaxoSmithKline Sells Tapinarof Rights for Up to GBP250 Million

12/07/2018 3:35pm

Dow Jones News


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By Carlo Martuscelli

 

GlaxoSmithKline PLC (GSK.LN) said Thursday that it had sold the rights to its drug candidate tapinarof for up to 250 million pounds ($331 million) to Roivant Sciences.

The pharmaceutical major said that the deal includes an initial payment of GBP150 million plus a potential future milestone payment of GBP100 million.

Roivant will acquire the rights for the drug worldwide, with the exception of China, GSK said.

"We have taken a strategic decision to divest or partner medicines in our R&D portfolio that are a better fit for other companies, allowing us to concentrate our resources on other promising assets," said John Lepore, senior vice president, R&D pipeline at GSK.

Tapinarof is a drug being developed for the treatment of psoriasis and atopic dermatitis.

 

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

 

(END) Dow Jones Newswires

July 12, 2018 10:20 ET (14:20 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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