Sunday, March 4, 2012

GSK cancels Synta deal, teams with Dr. Reddy's - Triangle Business Journal:

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Worldwide rights to the cancer drug elesclomol will revert to which may pay GSKa low, single-digigt royalty on any potential future salesx of elesclomol, the Lexington, Mass.-based company said in a pressa release. “We appreciate GSK’s contributions to this program and understandstheir decision,” said Safi R. Synta’s CEO. The deal with Dr. Reddy'ds gives GSK (NYSE: GSK) exclusive rights to market the India-based company's drugs in all developing countriesd expectfor India. Dr.
Reddy's sells or is developing 100 branderd pharmaceuticalsin fast-growing therapeutic segments such as diabetes, oncology, gastroenterology and pain GSK has about 5,000 employees in the Raleigh-Durham

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