Glaxosmithkline Share News (GSK)

LONDON (Dow Jones)--GlaxoSmithKline PLC (GSK.LN) said Thursday it has exercised its option to obtain an exclusive license to develop and commercialize GSK2251052, or GSK 052, formerly known as AN3365. MAIN FACTS: -GSK '052 is a novel, systemic antibiotic derived from Anacor Pharmaceuticals' boron chemistry platform. -In early stage studies, GSK '052 has shown robust activity against multi-resistant gram-negative bacteria with no cross resistance to existing classes of antibiotics. -GSK '052 will be developed as a potential treatment for complicated urinary tract infection, or cUTI, complicated intra-abdominal infections, or cIAIs, and hospital/ventilator-associated pneumonia, or HAP/VAP. -Under the terms of the agreement, Anacor will receive an option exercise fee of $15 million and is eligible for further development and commercialization milestone payments and royalties on any future product sales. -GlaxoSmithKline will now assume responsibility for further development of the compound and any resulting commercialization. -Shares of GlaxoSmithKline at 1514 GMT down 9.5 pence or 0.79%, at 1125.5 pence, valuing the company at GBP58.44 billion. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com (END) Dow Jones Newswires July 29, 2010 11:18 ET (15:18 GMT)