Pfizer and GSK end agreements
pharmafile | November 12, 2012 | News story | Research and Development, Sales and Marketing | Auxilium, GSK, Pfizer, Xenoport
Pfizer and GlaxoSmithKline are both handing back the rights to two drugs in April 2013 as part of the termination of separate agreements.
Pfizer is ending its tie-up with Auxilium Pharmaceuticals to develop, commercialise and supply Dupuytren’s disease treatment Xiapex (collagenase clostridium histolyticum) in Europe.
GSK is terminating its own collaboration with XenoPort on restless leg syndrome drug Horizant (gabapentin enacarbil), for which GSK had commercialisation and development rights in the US.
Auxilium appears undaunted by what the companies say is a mutual decision, and will take $94 million of deferred revenue and $9 million of deferred costs in its accounts for the fourth quarter of 2012.
“We now have the strategic flexibility to evaluate all of our options for the continuing commercialisation of Xiapex for the treatment of Dupuytren’s contracture,” said Auxilium chief executive Adrian Adams.
Patients with this condition find affected fingers permanently bending inwards into the palm of the hand – a potentially severe limitation on their lives. The company is also seeking approval for the drug to treat Peyronie’s disease in the EU and other markets.
Pfizer, which launched an interactive video and website aimed at helping people with Dupuytren’s only this summer, says it is committed to ensuring continuity of patient care and a ‘seamless transition’ of the drug rights to Auxilium.
Meanwhile GSK says the decision to ditch Horizant fits in with an “ongoing strategy to streamline its portfolio to focus on core franchise opportunities”.
All litigation between the manufacturer and XenoPort – over GSK’s alleged breaches of contract – has been settled by the agreement, with the company writing off £103 million pre-tax in the third quarter of this year, with no further one-off charges expected.
GSK has also agreed to buy $20 million of XenoPort stock at a 12.5% premium over the average price – and in the six months after April 2013, XenoPort may require GSK to purchase another $20 million in equity on the same terms.
Adam Hill
Related Content
GSK’s Exdensur receives MHRA approval for asthma and rhinosinusitis
GSK’s Exdensur (depemokimab), a twice-yearly biological medicine, has received approval from the UK Medicines and …
NICE recommends Pfizer’s new once-weekly treatment for haemophilia B on NHS
Walton Oaks, 21st May 2025 – Pfizer Ltd announced today that the National Institute for Health and Care …
Multiple myeloma treatment approved in Japan
GSK’s Blenrep (belantamab mafodotin) combinations have been approved by Japan’s Ministry of Health, Labour and …
