Pharmacopeia Inc. (PCOP), a biopharmaceutical company, on Wednesday said that it would receive a payment of $5 million from GlaxoSmithKline (GSK) for the completion of certain early discovery activities. This milestone payment is the second $5 million from GlaxoSmithKline under the March 2006 development agreement signed between the companies. Pharmacopeia said it would receive the third $5 million milestone payment for the early completion of certain early discovery activities. Under the deal, Pharmacopeia is entitled to receive total milestone payments of up to $83 million per program and get up to double-digit royalties on the sales of any products commercialized by GSK from the alliance.GlaxoSmithKline said that it is currently looking forward to discover and develop drugs by creating a small dedicated team. The Center of Excellence for External Drug Discovery or CEEDD was formed by the GSK to form small, independent and accountable R&D teams. PCOP is currently trading at $5.81, up 12 cents or 2.11%. GSK is currently trading at $51.89, down 15 cents.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.