From Earlier, Human Genome Sciences: GlaxoSmithKline Announces Further Data from Phase 3 Trials of Albiglutide
Attached is a press release issued earlier this morning by GlaxoSmithKline (NYSE: GSK), announcing that topline results have been received from seven of the eight Harmony Phase 3 studies investigating the use of albiglutide in type 2 diabetes.
Albiglutide was created by HGS (NASDAQ: HGSI) using its proprietary albumin-fusion technology, and was licensed to GSK in 2004. HGS is entitled to fees and milestone payments that could amount to as much as $183 million – including $33.0 million received to date – in addition to single-digit net royalties on worldwide sales if albiglutide is commercialized.
All inquiries regarding the albiglutide Phase 3 data announced today should be directed to the contacts provided by GSK.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.