Reckitt Benckiser to develop XenoPort alcohol abuse drug

LONDON Thu May 15, 2014 8:30am EDT

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LONDON (Reuters) - Reckitt Benckiser Group's pharmaceuticals unit will develop and sell XenoPort Inc'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)

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