GSK Cancels $1.5B Deal with Targacept

The two pharma companies are going in different directions with neuroscience research and this leads to their breakup.

GlaxoSmithKline has canceled its $1.5 billion dollar deal with Targacept after its decision to end all neuroscience research. The deal, first inked in 2007, covered a group of experimental NNR-targeted therapies for development of treatments for pain, smoking cessation, addiction, obesity and Parkinson's disease. Targacept gained $35 million up front and made a total of $45 million over the course of the deal.

"Our alliance with GlaxoSmithKline provided us with substantial funding at a key time

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GSK Cancels $1.5B Deal with Targacept

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