GlaxoSmithKline pulls back from Levitra co-promotion deal with Bayer
UK drug giant GlaxoSmithKline has transferred the majority of its Levitra (vardenafil) co-promotion rights back to Germany's Bayer HealthCare for 208 million euros ($272 million). GSK has also slashed its share of future R&D funding relating to the erectile dysfunction drug up to 15 million euros.
The sale includes the rights to major markets in Europe, Asia Pacific, Africa, Latin America and Canada, but does not affect the USA, where GSK and Bayer, through its US distributor Schering-Plough, will continue to co-promote the drug as per the terms of the original accord signed last year. There will also be no change to the existing arrangement in Italy, where the German firm markets the product as Levitra and GSK under the name Vivanza, nor in countries where the agent is sold by one company exclusively.
According to Wolfgang Plischke, Bayer's head of pharmaceuticals, the move represents "a logical step to enhance our pharmaceuticals business in Europe, Latin America and Asia."
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