GSK signs 3bln Swiss franc insomnia research deal with Actelion

ZURICH (AFP) — British pharmaceutical giant GlaxoSmithKline (GSK) said Monday it had signed a deal with Swiss peer Actelion worth a potential 3.3 billion Swiss francs (2.0 billion euros) for insomnia research.

Under the deal, GSK will contribute 40 percent of the costs of researching and commercialising Actelion's insomnia treatment almorexant, which is currently in phase 3 of clinical trials.

Actelion will receive an upfront payment of 150 million Swiss francs, with a further 415 million francs up for grabs if the insomnia tests prove satisfactory, GSK said in a statement.

The Swiss ...