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Article: Lundbeck and Merck & Co., Inc. Announce Alliance to Develop and Commercialize Gaboxadol, a Compound for the Treatment of Sleep Disorders, in the United States.
- Article from:
- Business Wire
- Article date:
- February 10, 2004
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Business Editors/Health/Medical Writers
COPENHAGEN, Denmark & WHITEHOUSE STATION, N.J.--(BUSINESS WIRE)--Feb. 10, 2004--H. Lundbeck A/S and Merck & Co., Inc. today announced an agreement, through wholly-owned affiliates, for the exclusive U.S. development and commercialization of gaboxadol, a compound currently in Phase III development for the treatment of sleep disorders.
Under the terms of the agreement, Lundbeck will receive an initial payment of US $70 million and up to US $200 million in additional milestone payments. Merck and Lundbeck will jointly complete the ongoing Phase III clinical program, with Merck funding the majority of the remaining ...