In modification and expansion of their 2003 strategic alliance, Ranbaxy Laboratories (BOM:500359) and GlaxoSmithKline (NYSE: GSK) have signed a new multiyear R&D agreement, providing Ranbaxy with an expanded drug development responsibilities and more financial opportunities.
The terms of agreement include:
- Ranbaxy will advance leads beyond candidate selection to completion of clinical proof of concept. GSK thereafter will conduct further clinical development for each program and take resulting products through the regulatory approval process to final commercialization.
Ranbaxy could receive over $100 Mn in potential milestone payments for a product developed by Ranbaxy and subsequently launched by GSK in multiple indications and up to double digit royalties on worldwide net sales.- Ranbaxy will retain the right to co-commercialize the products in India.
The expanded strategic alliance looks forward to a wide range of therapeutics of interest to GSK, including anti-infectives and metabolic, respiratory and oncology products.
Find more details from the press release.
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Posted by: amol | July 5, 2007 12:11 AM | Permalink to Comment