GSK licenses Speracor's insomnia drug

World drug giant GlaxoSmithKline has licensed USA-based Sepracor's eszopiclone product for all markets worldwide, excluding the USA, Canada, Mexico and Japan. The agent will be marketed by GSK in these areas as Lunivia for the treatment of insomnia. Under the agreement, Sepracor is entitled to receive an initial amount of $20.0 million plus subsequent payments on the accomplishment of various milestones. If all targets are met, GSK will be obligated to pay the US firm $155.0 million in aggregate license and milestone fees. In addition, Sepracor will receive double-digit royalties that escalate upon increased product sales and compensation for supplying the product to GSK.