September 11, 2007
Sepracor inks deal for sleep med. marketing
By Matthew L. Brown
Marlborough-based Sepracor Inc. said it had reached an agreement to market its sleep drug Lunivia through pharmaceutical giant GlaxoSmithKline .
Under the agreement, the drug would be marketed everywhere but in the U.S., Canada, Japan and Mexico. Sepracor receives an initial payment of $20 million from GlaxoSmithKline, and is entitled to $155 million in license and milestone payments as well as "double-digit royalties that escalate upon increased product sales," the company said.
Lunivia is under market review in Europe.
Under the agreement, the drug would be marketed everywhere but in the U.S., Canada, Japan and Mexico. Sepracor receives an initial payment of $20 million from GlaxoSmithKline, and is entitled to $155 million in license and milestone payments as well as "double-digit royalties that escalate upon increased product sales," the company said.
Lunivia is under market review in Europe.
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