Avant: GlaxoSmithKline paying only 70% of royalties on Rotarix

By Lisa Kerner

Charlotte, N.C., Sept. 20 - Avant Immunotherapeutics, Inc. said it was paid the lower of two royalty rates, or 70% of the full rate, by GlaxoSmithKline (GSK) on GlaxoSmithKline's sales of Rotarix rotavirus vaccine in Australia and certain European countries.

London-based GlaxoSmithKline believes Rotarix is not covered by the patents GlaxoSmithKline licensed from Avant in Australia and these certain European countries.

"We are presently analyzing various options to counter GSK's assertion and protect Avant's rights," Una S. Ryan, president and chief executive officer of Avant, a Needham, Mass.-based pharmaceutical company, said in a news release.

"Although we have sold the bulk of Avant's royalties from sales of Rotarix to Paul Royalty Fund II, LP and only retain a residual interest, we are of course disappointed in this news."

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