GlaxoSmithKline acquires exclusive rights to over-the-counter orlistat for markets outside the US from Roche Group

GlaxoSmithKline plc (GSK) announced today that it has acquired from Roche Group exclusive rights to the weight-loss medicine, orlistat, for over-the-counter (OTC) use in markets outside the US, excluding Japan. GSK anticipates filing orlistat for OTC approval in Europe and certain key international markets by the end of 2007.


Earlier this month, GSK received FDA approval to market OTC orlistat in the USA under the brand name alli™, and expects to launch alli during the summer.


John Clarke, President, GSK Consumer Healthcare, commented, “Today’s agreement strengthens GSK’s innovative consumer healthcare portfolio, and gives us the opportunity to globalise our efforts around OTC orlistat. This exclusive license is also testament to GSK’s ability to successfully switch prescription medicines to over-the-counter status and collaborate well with our partners. Alongside our smoking control franchise, we now have brands dedicated to addressing two of the world’s major health issues: smoking and obesity.”


In another transaction, GSK and Roche have also agreed to settle all arbitration procedures between the two companies relating to the licensing and co-marketing of carvedilol.


Financial terms of both agreements remain undisclosed. As part of the licensing agreement, Roche will receive an upfront payment from GSK; this will be offset by a payment made by Roche to GSK as a part of the settlement agreement.


GlaxoSmithKline — one of the world’s leading research-based pharmaceutical and healthcare companies — is committed to improving the quality of human life by enabling people to do more, feel better and live longer.

Nabi Biopharmaceuticals Says Chairman And CEO McLain Resigns Under Pressure

Nabi Biopharmaceuticals announced today that Thomas H. McLain has resigned as chairman, chief executive officer and president, effective immediately. By unanimous vote, the Board has appointed Leslie Hudson, Ph.D., a director of the company since 2005, as interim chief executive officer and president, and Geoffrey F. Cox, Ph.D., a director of the company since 2000, as non-executive chairman of the board of directors.

"We would like to thank Tom for his leadership of Nabi. Since he joined the company, he has made a significant contribution and, most recently, has managed a tremendous amount of change in our business," said Geoffrey Cox. "We are pleased that Dr. Hudson has accepted the role of interim CEO and I look forward to working with him to realize Nabi's potential and optimize Nabi's shareholder value. At this critical juncture for the company, we feel that Nabi is poised to take significant strides forward, focus its product development pipeline and identify and pursue the most compelling strategic opportunities for the company," said Cox.

Leslie Hudson will serve as interim CEO for a six-month period. During that time, the board of directors will seek to identify appropriate candidates to assume the role of permanent CEO. Dr. Hudson also will lead the Nabi senior management team to further align the company's activities and expense base with its corporate goals. Further, he will proactively continue the process being conducted by Nabi, the Company's Strategic Action Committee and Banc of America Securities LLC to analyze all strategic alternatives to enhance shareholder value.

"I welcome the opportunity to work with the board of directors, the senior management team and all Nabi employees to achieve our collective goals," said Leslie Hudson. "Nabi has mapped out an ambitious corporate strategy to focus on areas where we have competitive advantages and can deliver unique value to physicians and patients, to build a sustainable financial model and to enhance shareholder value. I look forward to actively and collaboratively leading the company's efforts as we work together to deliver upon that strategy," said Hudson.

Dr. Hudson has been a director of the company since August 2005. He is the founder of G&M Princeton Associates, a pharmaceutical commercial development practice. His extensive pharmaceutical experience includes several senior positions at Pharmacia Corporation, including group vice president and general manager of the ophthalmology franchise and, and at Glaxo, where he served as vice president of research. Most recently, Dr. Hudson was chief executive officer and president of DOV Pharmaceutical, Inc. and, prior to that post, served as Vice Provost for Strategic Initiatives at the University of Pennsylvania. Dr. Hudson received his doctorate in immunology from the Imperial College and Middlesex Hospital Medical School, University of London and is an associate of the Royal College of Science.

Dr. Cox has been a director of the company since December 2000. He has been chairman, president and chief executive officer of GTC Biotherapeutics, Inc., a biopharmaceutical company, since 2001. From 1997 to 2001, Cox was chairman of the board and chief executive officer of Aronex Pharmaceuticals, Inc., a biotechnology company. From 1984 to 1997, he was employed by Genzyme Corporation, a biotechnology company, last serving as its executive vice president, operations. He also serves on the board of the Biotechnology Industry Organization and the Massachusetts Biotechnology Council. Dr. Cox received a B.Sc (Hon) in Biochemistry from the University of Birmingham, U.K., and a Ph.D. in Biochemistry from the University of East Anglia, U.K.

Change in release date for 4Q and 2006 year end results.

Nabi previously announced that it would hold a conference call on February 28, 2007 to report its fourth quarter and full-year 2006 financial results. Because of the transition activities anticipated over the next several weeks, this call is being re-scheduled for March 12, 2007. During this call, Nabi also will provide an update regarding the company's 2007 financial performance outlook and strategy. In addition, Nabi announced that unaudited sales of Nabi-HB® [Hepatitis B Immune Globulin (Human)] were in excess of $11.0 million in the fourth quarter of 2006.