GlaxoSmithKline agreed to sell US and Canadian rights to non-ophthalmic topical formulations of Zovirax to Valeant Pharmaceuticals' Biovail subsidiary for $300 million, the Canadian company announced Thursday. Biovail had previously been the exclusive distributor in the US. Valeant CEO J. Michael Pearson noted that the current distribution agreement between the parties had been "problematic for both companies and this new arrangement should solve this issue."
Reference Articles
Valeant subsidiary acquires U.S.-Canadian rights to Zovirax for $300M - (Canadian Business)
Valeant gets GSK drug's US, Canada rights for $300 mln - (London South East)
Valeant Pharmaceuticals to acquire U.S. and Canadian rights to Zovirax - (Valeant)
**Published in "First Word"
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