British drugmaker GlaxoSmithKline PLC buys Nabi staph infection vaccine worth as much as $46 million.
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Nabi said it will receive $20 million upfront, with the rest of the payments depending on four undisclosed milestones being accomplished. It said it expects the sale to close by the end of the year, and said it believes it will complete the four milestones within 18 months.Staph infections are caused by a drug-resistant strain of bacteria often found in hospitals. PentaStaph is being tested against three different strains of staph and two other antigens.
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