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NEW YORK - Switzerland-based eye-care company Alcon Inc. said late Tuesday it signed a licensing deal with GlaxoSmithKline for global rights to the drug cilomast as a possible eye-care product.
Financial details of the deal were not disclosed. The drug is being studied by U.K.-based GlaxoSmithKline as a possible treatment for the respiratory condition chronic obstructive pulmonary disease.
Under the deal, Alcon will make an up-front payment and additional future payments to GlaxoSmithKline.
Meanwhile, Alcon expanded an existing drug research collaboration with Origenis GmbH. The companies are working together on developing molecules that could be potential eye disease treatments.
U.S. stocks were mixed on Thursday after retailers reported mostly disappointing sales while other big-name companies announced layoffs and Europ...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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