Basilea Hands Off Eczema Drug Toctino to GSK; $227M Up Front

In a deal that is an asset disposal in all but name, Basilea Pharmaceutica AG is banking £146 million up front (US$226.8 million) and could get between £30 million and £50 million more in regulatory milestones from a global agreement on its hand eczema drug Toctino (alitretinoin) with Stiefel, the dermatology subsidiary of London-based GlaxoSmithKline plc.