GlaxoSmithKline to buy eczema drug

London - Pharmaceutical company GlaxoSmithKline, based here, has agreed to purchase new eczema treatment Toctino (alitretinoin) for a reported $300 million.

The Independent of London reports that under terms of the agreement, GlaxoSmithKline will pay the drug’s Swiss developer, Basilea, about $146 million and additional payments of about $75 million if the drug wins approval in the United States. Basilea is also entitled to payments on any U.S. sales from three years after its launch.

Toctino is sold in 14 countries and is in phase 3 clinical trials in the United States, The Independent reports.

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