| Hard-Again 2005-01-15, 7:10 am |
| GlaxoSmithKline, the British-based pharmaceuticals group, yesterday
confirmed the disappointing performance of its male erectile
dysfunction treatment Levitra with the sale back to Bayer of the
marketing rights in most of the world outside the US. Bayer, the German
group, said it had paid EUR 208m ($272m) to buy out GSK as joint
promoter of the treatment in Europe, Asia, the Pacific, Latin America
and Canada. The move came just four years after Bayer received an
undisclosed amount for joint marketing of the drug, also known as
vardenafil. It also confirmed GSK's inability to raise sales for
Levitra, in spite of hopes that it would provide a "blockbuster" to
rival Pfizer's Viagra and Eli Lilly's Cialis...
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