Allergan Inc. said Monday it granted exclusive rights to sell its Botox wrinkle-reducing drug in China and Japan to Britain’s GlaxoSmithKline PLC.
The Irvine drug maker is set to get an upfront payment, royalties and money for research and marketing support under the deal.
The pact also calls for Allergan to market a pair of Glaxo drugs for treating migraine headaches,Imitrex, an injectable, and Amerge tablets,for five years in the U.S.
Allergan, in a release, cited Glaxo’s experience selling drugs in China and Japan as a reason for signing the deal. The drug maker also said that London-based Glaxo could help speed development of new uses of Botox, which also is given to relax neck spasms and for other uses.
The company said the deal would boost earnings on a long-term basis. Much of the added profit would be invested back in the business, Allergan said.
