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GSK signs eczema drug deal with Basilea

UK pharma company could pay up to £196m for Toctino

GSK - logo on building

GlaxoSmithKline (GSK) will pay at least £146m to acquire the rights to eczema drug Toctino from Basilea Pharmaceutica.

The deal will be made through GSK's dermatology unit Stiefel, which could face further payments of up to £50m to Swiss biotech Basilea depending on the drug's regulatory success in the US taking total costs up to £196m.

Toctino (alitretinoin) is already available in 14 countries, taking in £22m during 2011, and is currently in phase III trials in the US to support a marketing application to the Food and Drug Administration (FDA).

A US approval would open a huge new market for the treatment, which has been developed for the treatment of severe chronic hand eczema in adults unresponsive to potent topical steroids.

The once-daily oral retinoid is also approved in 15 countries where it is still not commercially available.

Simon Jose, president of Stiefel said: “Toctino is an important and growing product that complements the Stiefel portfolio and offers a proven therapy for patients with a significant unmet medical need.

“This acquisition gives us an immediate opportunity to develop and expand the availability of this new and innovative product of value and reinforces Stiefel and GSK's commitment to dermatology.”

As part of the deal, Stiefel will acquire all rights to Toctino and will license certain clinical information from Basilea.

Stiefel would in turn be responsible for the product's further development, manufacture and commercialisation worldwide.

In addition to GSK's payments, Basilea would also be entitled to payments on US net sales, beginning three years after launch of the product in the US.

14th June 2012

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