GSK in $1.5b deal with Targacept ahead of Avandia meeting

Source: Pharmatimes.com

All eyes are on the US Food and Drug Administration advisory panel meeting later today which will go some way to determining the future of Avandia but in the meantime, GlaxoSmithKline has signed a deal worth over $1.5 billion with the USA’s Targacept which will develop drugs for central nervous system disorders....

GSK’s shares, meanwhile, fell again ahead of the FDA committee meeting today which will discuss the thiazolidinedione class of antidiabetic drugs, and Avandia (rosiglitazone) in particular, as briefing documents from agency staff raised questions over the conflicting data relating to cardiovascular events.

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