Medivir AB and GlaxoSmithKline sign licensing agreement on HIV drug

Nordic Business Report, May 21, 2003

NORDIC BUSINESS REPORT-21 May 2003-Medivir AB and GlaxoSmithKline sign licensing agreement on HIV drug(C)1994-2003 M2 COMMUNICATIONS LTD http://www.m2.com

The Swedish pharmaceuticals developer Medivir AB said on Tuesday (20 May) that it had signed a licensing agreement on Medivir's antiviral compound MIV-20 with GlaxoSmithKline.

Under the agreement GlaxoSmithKline will continue to develop MIV-20 for the treatment of HIV, and will have exclusive marketing rights outside the Nordic countries.

For Medivir the agreement means an upfront payment of EUR6m, milestone payments of up to EUR86m and royalty payments on sales.

One euro (EUR) is worth approximately 0.7 British pounds (GBP).

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