SmithKline Beecham has signed two agreements for the divestitures of Kytril, SKB's antiemetic drug for chemotherapy, radiotherapy and post-operative associated nausea and vomiting, and the antivirals Famvir and Vectavir/Denavir. The divestitures are being undertaken to secure regulatory approval for SKB's merger with Glaxo Wellcome, which markets the antiemetic Zofran for chemotherapy and the antivirals Zovirax and Valtrex.
SKB and Roche have signed an agreement for Roche to acquire global rights to Kytril for $1.23 billion in cash. At the same time, SKB will pay Roche $400 million in cash for exclusive U.S. and Canadian rights for Coreg, the drug for congestive heart failure. SKB is currently in a co-promotion agreement with Roche to market Coreg in the United States. In 1999, U.S. sales of Coreg were $196 million.
In a separate agreement, Novartis will acquire global rights to the antivirals Famvir, indicated for the treatment of acute herpes zoster and herpes simplex, and Vectavir/Denavir, for the treatment of herpes labialis, from SKB for $1.63 billion in cash.
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