GlaxoSmithKline Offers to Give National Cancer Institute Rebate If Pfizer Inc. Cancer Drug Better in Head to Head Clinical Trial

Published: Dec 29, 2010

LONDON, Dec 24 (Reuters) - Britain's state-run health service will get a partial rebate from GlaxoSmithKline (GSK.L) if the company's new kidney cancer drug Votrient does not match up to a rival medicine in a head-to-head clinical trial. The unusual deal, the first of its kind, hints at the type of complex arrangements that could become commonplace as Britain moves to a system of value-based drug pricing from the end of 2013.

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