Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

GSK Enters Drug Development Pacts

October 15, 2007 | A version of this story appeared in Volume 85, Issue 42

GlaxoSmithKline has formed two drug discovery partnerships and named a successor to its CEO. GSK and Anacor Pharmaceuticals are teaming up to discover, develop, and commercialize viral and bacterial disease therapies based on Anacor's boron-based chemistry platform. The agreement could involve up to four discovery targets and at least eight products. Anacor will receive a $12 million up-front payment and a $10 million equity-financing commitment from GSK. GSK also signed an agreement with Synta Pharmaceuticals for the development and commercialization of STA-4783, Synta's metastatic melanoma treatment, outside the U.S. Synta will receive an up-front cash payment of $80 million, and GSK may purchase up to $45 million of Synta's common stock. Meanwhile, GSK has named Andrew Witty, currently president of its European pharmaceuticals business, as the designated successor to CEO Jean-Pierre Garnier following Garnier's scheduled retirement in May 2008.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.