GSK Returns Rights to Three Drugs to AmgenBy
Amgen has entered into a definitive agreement with GlaxoSmithKline (GSK) to reacquire all of its remaining rights to Prolia (denosumab), Xgeva (denosumab) and Vectibix (panitumumab) in 48 countries in Asia, South America, Europe, Australia and other regions throughout the world. The agreement involves key expansion markets for Amgen, including Brazil, China, Colombia, Hong Kong, Israel, Singapore, South Korea, Taiwan, and Thailand.
GSK has held select regional rights to Prolia and Xgeva since 2009 and to Vectibix since 2010 under license from Amgen. In 2014, GSK generated approximately $111 million in combined sales from these licenses. Amgen will make undisclosed milestone payments to GSK on signing and on the successful transition of the products back to Amgen. Amgen will book all product sales following this transition.
GSK will continue to hold the license and sell and distribute the products for an interim transition period that will vary by country. The majority of markets are planned to be transitioned back to Amgen within a 12-month period.