Actelion gets $145M upfront from GSK as part of almorexant marketing accord
Actelion will receive an upfront payment of 150.0 million Swiss francs ($145.3 million) from UK drug major GlaxoSmithKline as part of an exclusive worldwide collaboration, excluding Japan, for almorexant. The Swiss biotechnology firm's orexin receptor antagonist is in Phase III development with first-in-class potential as a treatment for primary insomnia.
Under the terms of the deal, GSK will receive exclusive worldwide rights to co-develop and co-commercialize the agent, while Actelion will continue to lead the ongoing late-stage development program and potential registration for the first indication, primary insomnia, with GSK contributing 40% of the costs.
Almorexant will also be studied in other orexin-related disorders and all costs related to these programs will be shared equally. Actelion will also be eligible for additional potential milestone payments of up to 415.0 million francs if the agent is approved in primary insomnia.
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