Topline results from GSK's seven of eight albiglutide Phase 3 studies on type 2 diabetes

Attached is a press release issued earlier this morning by GlaxoSmithKline, announcing that topline results have been received from seven of the eight Harmony Phase 3 studies investigating the use of albiglutide in type 2 diabetes.

Albiglutide was created by HGS using its proprietary albumin-fusion technology, and was licensed to GSK in 2004. HGS is entitled to fees and milestone payments that could amount to as much as $183 million - including $33.0 million received to date - in addition to single-digit net royalties on worldwide sales if albiglutide is commercialized.

All inquiries regarding the albiglutide Phase 3 data announced today should be directed to the contacts provided by GSK.