Marlborough-based Sepracor Inc. said it had reached an agreement to market its sleep drug Lunivia through pharmaceutical giant GlaxoSmithKline .
Under the agreement, the drug would be marketed everywhere but in the U.S., Canada, Japan and Mexico. Sepracor receives an initial payment of $20 million from GlaxoSmithKline, and is entitled to $155 million in license and milestone payments as well as “double-digit royalties that escalate upon increased product sales,” the company said.
Lunivia is under market review in Europe.
