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Amgen ends marketing agreement with GSK for osteoporosis drug

Reuters - UK Focus

April 3 (Reuters) - Amgen Inc (Xetra: 867900 - news) said it was ending an agreement with GlaxoSmithKline Plc (Other OTC: GLAXF - news) , under which the British company marketed Amgen's postmenopausal osteoporosis drug in some regions outside the United States.

Amgen said it would take over the marketing of the drug in areas under the agreement, including the European Union, Switzerland, Norway, Russia and Mexico, no later than Dec. 31. (http://link.reuters.com/cax28v)

The termination of the deal, signed in July 2009, will not affect GSK's marketing activities in Australia, Amgen said in a regulatory filing.

The company said it would pay GSK $275 million over the rest of the year and reimburse the British drugmaker $15 million for costs incurred during the transition period. (Reporting By Vrinda Manocha in Bangalore; Editing by Simon Jennings)