Gilead Signs Sales Deal With Glaxo for Viread
From Associated Press (November 24, 2009)
NEW YORK--Gilead Sciences Inc. and GlaxoSmithKline said Tuesday they signed a deal to sell Viread as a hepatitis B treatment in Asia.
Gilead makes Viread, which is also used to treat HIV.
Each company will pay royalties to the other on sales of the drug for their respective Asian territories. Gilead retains exclusive sales rights in Hong Kong, Singapore, South Korea, and Taiwan. Glaxo has rights in China.
Financial details of the deal were not disclosed.
Shares of Gilead, based in Foster City, Calif., fell 1 cent to $47 in morning trading, while shares of U.K.-based Glaxo rose 2 cents to $42.16.
Posted: November 2009
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