GlaxoSmithKline acquires exclusive rights to over-the-counter orlistat for markets outside the US from Roche Group
GlaxoSmithKline and Roche settle all arbitration procedures related to carvedilol
GlaxoSmithKline plc (GSK) announced today that it has acquired from Roche Group exclusive rights to the weight-loss medicine, orlistat, for over-the-counter (OTC) use in markets outside the US, excluding Japan. GSK anticipates filing orlistat for OTC approval in Europe and certain key international markets by the end of 2007.
Earlier this month, GSK received FDA approval to market OTC orlistat in the USA under the brand name alli™, and expects to launch alli during the summer.
John Clarke, President, GSK Consumer Healthcare, commented, “Today’s agreement strengthens GSK’s innovative consumer healthcare portfolio, and gives us the opportunity to globalise our efforts around OTC orlistat. This exclusive license is also testament to GSK’s ability to successfully switch prescription medicines to over-the-counter status and collaborate well with our partners. Alongside our smoking control franchise, we now have brands dedicated to addressing two of the world’s major health issues: smoking and obesity.”
In another transaction, GSK and Roche have also agreed to settle all arbitration procedures between the two companies relating to the licensing and co-marketing of carvedilol.
Financial terms of both agreements remain undisclosed. As part of the licensing agreement, Roche will receive an upfront payment from GSK; this will be offset by a payment made by Roche to GSK as a part of the settlement agreement.
GlaxoSmithKline — one of the world’s leading research-based pharmaceutical and healthcare companies — is committed to improving the quality of human life by enabling people to do more, feel better and live longer.
Cautionary statement regarding forward-looking statements
Under the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995, the company cautions investors that any forward-looking statements or projections made by the company, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect the Group’s operations are described under ’Risk Factors’ in the Operating and Financial Review and Prospects in the company’s Annual Report on Form 20-F for 2005.
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