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Dendreon Corporation (DNDN) Ends Pact With GlaxoSmithKline (GSK) Over Provenge Antigen



9/6/2011 7:56:25 AM

Dendreon said it ended a development and supply agreement with GlaxoSmithKline on Dendreon's prostate cancer vaccine, citing delays and difficulties in achieving the commercial purpose of the deal. The agreement will end effective Oct. 31 and Dendreon [DNDN 10.59 -0.37 (-3.38%) ] may continue to pay Glaxo [GSK 41.04 -0.70 (-1.68%) ] a fee of $2 million per month for September and October, Dendreon said in a regulatory filing. Dendreon said all previously issued product orders were cancelled as the manufacturing phase had not yet started.

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