GSK signs another licensing deal
GlaxoSmithKline has continued in its stated aim to enter into drug licensing agreements by signing a worldwide development and commercialisation agreement with Merck KGaA.
The agreement is for an antidepressant with a novel mechanism of action. The compound, currently known as EMD 69943 or SB 659746-A, is in Phase II development.
GSK will be responsible for continuing development worldwide and commercialisation. Merck will receive milestone payments and royalties on sales, and will retain the option to commercialise the compound jointly with GSK in some markets outside north America. Merck will also be responsible for manufacturing the product.
The compound was initially developed by Merck. It is a selective serotonin reuptake inhibitor that also has the properties of a 5-HT1A partial agonist.
Merck's president and ceo, Prof. Bernhard Scheuble, said, 'Given the experience of GSK in developing and marketing antidepressants, it is the natural partner for Merck to make this product a global market success. Building powerful alliances with experienced partners in this area of high medical need is a key success factor in our strategy to bringing highly innovative medicines to the market.'