Mumbai: Drug maker Lupin Ltd on Monday said it has entered into a research and development (R&D) agreement with US-based Medicis Pharmaceutical Corp. to apply Lupin’s formulation technologies to multiple therapeutic compounds.
Under the terms of the agreement, Lupin will receive a $20 million (Rs8.88 crore) up-front payment from Medicis and will be primarily responsible for formulating certain novel therapeutic products for the company.
Medicis, a specialty pharmaceutical company focusing primarily on the treatment of dermatological and aesthetic conditions, will have global exclusive rights, except for the products developed under the agreement.
Lupin will be eligible for future research, development, regulatory and other milestones of up to $38 million, as well as a single-digit royalty on sales of these drugs by Medicis, while the US based firm will be responsible for further development and commercialization of the licensed products.
”This alliance substantiates our drug delivery capabilities in building and developing proprietary products,” said Nilesh Gupta, group president and executive director, Lupin.