GlaxoSmithKline Ltd could pay Swiss company Actelion Ltd up to 3.3 billion Swiss francs ($3.28 billion) to develop a promising insomnia drug in the largest biotech partnering deal.
Glaxo, Europe's biggest drugmaker, beat many of the world's top pharmaceuticals companies to partner Actelion's sleeping pill almorexant and the deal sent the Swiss biotech's stock soaring nearly 10 percent on Monday.
The details can be read here.
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