J&J sells experimental asthma drug to GSK for $230M

GlaxoSmithKline purchased the global rights to an experimental asthma drug from Johnson & Johnson for $230 million, according to Reuters.

The drug, CNTO 7160, targets a protein known to play a role in the inflammation that causes asthma.

CNTO 7160 is currently in Phase I clinical development at Janssen, a Belgian pharmaceutical company owned by New Brunswick, N.J.-based Johnson & Johnson.

GlaxoSmithKline hopes to develop the drug as a treatment for patients who don’t respond to the company’s injectable biologic asthma treatment Nucala.

Through the deal, Janssen will receive an upfront payment along with milestone payments totaling up to $230 million. Janssen will also be entitled to royalties and further payments based on the drug’s sales.

GlaxoSmithKline will further investigate the drug in Phase II trials next year and said the treatment wouldn’t reach the market until at least 2023.

More articles on the drug market:

Merck records higher Q2 revenue from cancer, hepatitis treatments
Eli Lilly CEO to retire
FDA approves AbbVie's drug to treat chronic hepatitis C

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers