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GlaxoSmithKline granted rights to cold sore treatment in key global markets.

M2 EQUITYBITES-23 June 2010-GlaxoSmithKline granted rights to cold sore treatment in key global markets(C)2010 M2 COMMUNICATIONS

Healthcare company GlaxoSmithKline (NYSE:GSK) and Swedish pharmaceutical company Medivir (Stockholm:MVIR-B) reported on Wednesday that they have signed an exclusive agreement for the commercialisation of cold sore treatment Xerclear (acyclovir and hydrocortisone) for non-prescription use.

Xerclear is Medivir's first and only topical herpes labialis (cold sores) treatment clinically proven to help prevent cold sore lesions appearing.

Pursuant to the agreement, GSK acquires exclusive rights to commercialise and distribute non-prescription Xerclear as part of the Zovirax franchise across multiple markets, including Europe, Russia, Japan, India, Australia and New Zealand. The agreement excludes North and South America, China, South Korea and Israel.

GSK will assume responsibility for funding ongoing and future commercial development of Xerclear in all territories covered by the agreement.

As well as funding the commercial development of Xerclear, GSK will pay Medivir up to EUR3m in up-front and pre-launch milestones and up to double-digit royalties on sales for the exclusive rights.

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Publication:M2 EquityBites (EQB)
Date:Jun 23, 2010
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