Glenmark Pharmaceuticals signs pact with Forest Lab

Glenmark, Forest to collaborate for development of mPGES-I inhibitors to treat chronic inflammatory conditions
Comment E-mail Print Share
First Published: Mon, Dec 24 2012. 11 57 AM IST
Under the terms of the agreement, Forest will make a $6 million upfront payment to Glenmark and provide an additional $3 million to support the next phase of work.
Under the terms of the agreement, Forest will make a $6 million upfront payment to Glenmark and provide an additional $3 million to support the next phase of work.
Mumbai: Glenmark Pharmaceuticals SA, a wholly owned subsidiary of Glenmark Pharmaceuticals Ltd, said it has entered into an agreement with healthcare company Forest Laboratories Inc., on a collaboration for the development of so-called novel mPGES-I inhibitors to treat chronic inflammatory conditions, including pain.
Glenmark has identified clinical candidates and is currently conducting pre-clinical studies and other development activities required to support the initiation of first-in-human dosing, the company said in a filing to BSE.
Under the terms of the agreement, Forest will make a $6 million upfront payment to Glenmark and provide an additional $3 million to support the next phase of work, the statement said.
Forest will make other future payments in fiscal 2014 to support the advancement of the ongoing mPGES-I inhibitors programme.
Forest has an exclusive option to obtain licence rights to the programme upon the completion of first phase clinical trails,the statement added.
Shares of Glenmark Pharmaceuticals were up 2.4% at Rs.511 apiece each at 10.50am on BSE, on a day when the exchange’s Sensex was up marginally.
Comment E-mail Print Share
First Published: Mon, Dec 24 2012. 11 57 AM IST
blog comments powered by Disqus
  • Wed, Sep 17 2014. 04 45 PM
  • Wed, Sep 10 2014. 03 54 PM
ALSO READ close

China joins nations eyeing India’s civil nuclear sector

Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved