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PacificHealth, GlaxoSmith-Kline Sign License Agreement

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By: Sean Moloughney

Editor, Nutraceuticals World

PacificHealth Laboratories (PHLI), Woodbridge, NJ, has entered into an exclusive license agreement with GlaxoSmithKline (GSK), Research Triangle Park, NC, for Satietrol™, PacificHealth’s newest weight loss product. The agreement provides GSK with worldwide rights to the trademarks, technology, patents and know-how for Satietrol. Under the license agreement, in addition to product royalties, PHLI will receive an initial payment of $1 million and other milestone payments over the next two years if GSK meets certain development goals. GSK will be responsible for future manufacturing, marketing and sales. GSK will also purchase shares of PHLI’s common stock, equal to approximately 9% of the outstanding shares, for $1.5 million.

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