Tuesday, biopharmaceutical company Gilead Sciences Inc. (GILD) said that it signed a licensing agreement with UK-based GlaxoSmithKline plc (GSK,GSK.L) to commercialize Viread for treating chronic hepatitis B, or HBV, infection in adults in 5 Asian countries.
Under the deal, Gilead will retain exclusive commercialization rights for the compound in Hong Kong, Singapore, South Korea and Taiwan. Glaxo will get to market the drug in China.
Both the companies will pay royalties to the other for their share of the market. Gilead also hinted the possibility of expanding the agreement to Japan and other countries.
Viread is currently approved in the U.S, Europe, Turkey, Australia, New Zealand and Canada for HBV. Viread is also indicated in combination with other antiretroviral agents for the treatment of HIV infection in adults.
Back In April 2002, Glaxo obtained rights to commercialize Viread under certain circumstances, as an add-on to exclusive marketing rights of Gilead's first hepatitis B treatment - Hepsera, in various territories.
The current deal modifies these terms, giving both players significant room in Asia, a region where prevalence of hepatitis B in most countries is said to be greater than 8%.
"Through this agreement, Gilead is proud to ensure broader access to Viread for chronic hepatitis B in some of the world's highest prevalence regions," Gilead said.
GILD is currently trading at $46.95, down 0.13% on the Nasdaq.
GSK is currently up 4 cents at $42.18 on the NYSE. GSK.L is currently trading at 1275 pence, losing 0.20% on the London Stock Exchange.
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