Glenmark signs drug development pact with forest laboratories
The agreement between the two firms aims at developing molecules to treat chronic inflammatory conditions.
New Delhi, December 24, 2012: Glenmark Pharmaceuticals has signed an agreement with the US-based Forest Laboratories Inc to develop molecules to treat chronic inflammatory conditions. As per the agreement, Glenmark will receive up to Rs 50 crore (US$ 9 million) from the US-based company.
The unit of the Indian company, Glenmark pharmaceuticals SA (GPSA), has entered into an agreement with Forest Laboratories on a collaboration for the development of novel mPGES-1 inhibitors to treat chronic inflammatory conditions, including pain, Glenmark Pharmaceuticals said in a statement.
The company also said that Forest will have an exclusive option to obtain license rights to the programme upon the completion of phase one of clinical trials. It is worth noting here that the collaboration between the two firms reinforces the strategy of the Indian company to partner with other firms in order to achieve its goal of launching innovative technologies around the world.
Glenmark also said that the partnership combines the expertise of Glenmark in rapid, innovative product development with Forest’s development and regulatory expertise.