Reckitt Benckiser to develop XenoPort alcohol abuse drug
LONDON, May 15 (Reuters) - Reckitt Benckiser Group's pharmaceuticals unit will develop and sell XenoPort Inc (NasdaqGS: XNPT - news) 's drug to treat alcohol use disorders, the companies said on Thursday.
Under the terms of the exclusive global licensing deal, XenoPort is entitled to $20 million up front, followed by another $5 million upon the transfer of certain technology and materials and aggregate payments of up to $70 million upon Reckitt's achievement of development and regulatory milestones, and $50 million for commercial milestones.
(Reporting by Martinne Geller; Editing by Erica Billingham)