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Ranbaxy signs new R&D pact with Glaxo

Ranbaxy signs new R&D pact with Glaxo
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First Published: Wed, Feb 07 2007. 04 18 PM IST
Updated: Wed, Feb 07 2007. 04 18 PM IST
By Agencies
Ranbaxy Laboratories Ltd., India’s biggest drugmaker, signed a new research and development agreement with GlaxoSmithKline Plc, Europe’s largest drugmaker.
Under the agreement, Ranbaxy could get more than $100 million in “milestone payments” for a product that it develops and that is sold by Glaxo, Ranbaxy, based in Gurgaon, India, said in a mailed statement today.
The new “multiyear” agreement expands the terms of the alliance formed between Ranbaxy and Glaxo in 2003 to provide the Indian company wider drug-development responsibilities, Ranbaxy said.
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First Published: Wed, Feb 07 2007. 04 18 PM IST
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