Jubilant signs research deal with Anglo-Swedish firm AstraZeneca
06 May 2009
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Drugmaker Jubilant Organosys Ltd on Tuesday said its unit had signed a research deal with Anglo-Swedish group AstraZeneca for neuroscience-related drugs. Under the deal, AstraZeneca will own the development and commercialisation rights for drugs developed under the collaboration with Jubilant Biosys Ltd, a Jubilant subsidiary, and will fund the research for the initial five-year period, Jubilant said in a statement.
Jubilant will also receive milestone payments and royalties on successful sale of any drug. The company expects the drug research deal to add $20 million in certain revenue, with another $200 million in potential milestone and royalty fees, a company official said on Tuesday.
Last year, Jubilant struck a similar deal with Amgen Inc and also formed an equal joint venture with US firm, Eli Lilly, for providing drug development services to the companies' partnered pre-clinical molecules and their development through phase-II clinical testing. (See: Jubilant in R&D, clinical trial joint venture with Eli Lilly)
The Indian drug firm will also receive milestone payments and royalties from AstraZeneca on successful sale of any drug, the statement added.
"Through this partnership, Jubilant is confident of contributing to AstraZeneca's pre-clinical portfolio and anticipates significant rewards from successful downstream milestones," Jubilant Organosys chairman and managing director Shyam S Bhartia and co-chairman and MD Hari S Bhartia said in a filing before the Bombay Stock Exchange.
"This collaboration complements our internal capabilities and increases the capacity of our pre-clinical programmes," AstraZeneca executive vice-president (global discovery) Jan Lundberg said.
Jubilant will also receive milestone payments and royalties on successful sale of any drug. The company expects the drug research deal to add $20 million in certain revenue, with another $200 million in potential milestone and royalty fees, a company official said on Tuesday.
Last year, Jubilant struck a similar deal with Amgen Inc and also formed an equal joint venture with US firm, Eli Lilly, for providing drug development services to the companies' partnered pre-clinical molecules and their development through phase-II clinical testing. (See: Jubilant in R&D, clinical trial joint venture with Eli Lilly)
The Indian drug firm will also receive milestone payments and royalties from AstraZeneca on successful sale of any drug, the statement added.
"Through this partnership, Jubilant is confident of contributing to AstraZeneca's pre-clinical portfolio and anticipates significant rewards from successful downstream milestones," Jubilant Organosys chairman and managing director Shyam S Bhartia and co-chairman and MD Hari S Bhartia said in a filing before the Bombay Stock Exchange.
"This collaboration complements our internal capabilities and increases the capacity of our pre-clinical programmes," AstraZeneca executive vice-president (global discovery) Jan Lundberg said.
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