Gilead, GSK Announce Viread Agreement In Asia (GILD,GSK)

11/24/2009 - Gilead Sciences (NASDAQ:GILD) and GlaxoSmithKline (NYSE:GSK) announced a licensing agreement to commercialize Viread. Viread is for the treatment of chronic hepatitis B infection in adults in five countries in Asia. Under the terms of the agreement, Gilead will retain exclusive rights for commercialization of Viread in Hong Kong, Singapore, South Korea, and Taiwan. GlaxoSmithKline will have exclusive commercialization rights and registration responsibilities for the drug in China. Both companies will pay royalties to the other on sales of Viread. Gilead Chairman and CEO John C. Martin said, "Chronic hepatitis B infection is a significant global health problem and the need for new effective treatment options is particularly urgent in Asia, where approximately 280 million people are living with this serious, life-threatening disease. 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."

Write to Chip Brian at cbrian@tradethetrend.com

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Related terms: asia, ceo, china, disease, health, hong kong, infection, market, nasdaq, nyse, sales, securities, singapore, south korea, taiwan