Under the terms of the agreement, GlaxoSmithKline will exclusively promote Diastat and Diastat AcuDial to US physicians in 2009, with an option to extend the term by mutual agreement. Valeant will continue to book sales and will be responsible for ongoing brand strategy and product development.
Michael Pearson, chairman and CEO of Valeant, said: “We believe this agreement further strengthens the collaboration in epilepsy between our companies and will help build a strong platform in advance of the potential launch of retigabine. By utilizing GlaxoSmithKline’s larger sales force infrastructure, we can broaden our exposure to the patients who suffer from breakthrough seizures, and the physicians who treat them, and potentially help these patients avoid a trip to the emergency room.
“In addition, we believe this agreement will capitalize on the synergies between our two companies, expanding the promotional support for this important product while lowering Valeant’s overall cost structure.”