GSK Consumer Tries On Wearable Pain Relief With NeuroMetrix Deal
This article was originally published in The Pink Sheet & The Rose Sheet
GSK Consumer purchases ex-US rights to pain relief device Quell from NeuroMetrix in a deal that includes co-development of transcutaneous electrical nerve stimulation products.
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Recent modifications accelerated portion of milestones remaining in firms' agreement over the next 12 months, reduced GSK's aggregate amount payable and forwarded $2m to NeuroMetrix. Firms are co-funding future development of Quell technology and additional TENS products for chronic pain beginning in 2019.
“The present has passed us by” in using appropriate technology to provide consumers more information than on US Drug Facts labels, Pinney Associates’ Saul Shiffman says at CPHA conference.
“There’s a heightened need for products that deliver against health, hygiene and clean home concerns and a willingness to spend just a little bit more to ensure that I’m using a product that I know and trust,” says CFO Jon Moeller