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Article: GSK returns rights to Futura Medical's ED gel.(GlaxoSmithKline)(Brief article)
- Article from:
- Pharma Marketletter
- Article date:
- May 21, 2007
CopyrightCOPYRIGHT 2007 Marketletter Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Drug major GlaxoSmithKline has returned the development rights to MED2002, a topical gel for erectile dysfunction, to its originator, fellow UK-based Futura Medical, sending shares in the latter down 30% to 41 pence on the day of the news, May 15.
According to Futura, current priorities within GSK meant that they were unlikely in the near future to approve a marketing agreement for the agent, which recently completed Phase II trials. The companies' negotiation over global distribution rights for the provision of pain relief using Futura's transdermal delivery technology is unaffected by this decision on MED2002.
During the period of exclusivity with GSK, ...