Glenmark in $325-million drug deal with Sanofi-Aventis
03 May 2010
French pharma giant Sanofi-Aventis today said that it has entered into a license agreement with Glenmark Pharmaceuticals S.A (GPSA), a wholly-owned subsidiary of Glenmark Pharmaceuticals Limited India (GPL), for the development and commercialisation of novel agents to treat chronic pain.
Those agents are vanilloid receptor (TRPV3) antagonist molecules, including a first-in-class clinical compound, GRC 15300, which is currently in Phase I clinical development as a potential next-generation treatment for various pain conditions, including diabetic neuropathic pain and osteoarthritic pain.
Under the terms of the agreement, Glenmark will receive an upfront payment as well as development, regulatory and commercial milestone payments, that could reach a total of $325 million.
In addition, Mumbai-based Glenmark is eligible to receive tiered royalties on sales of products commercialised under the license.
Paris-based Sanofi-Aventis will have exclusive marketing rights in North America, European Union and Japan, subject to Glenmark's right to co-promote the products in the US and five Eastern European countries.
Sanofi-Aventis will also have co-marketing rights in 10 other countries including Brazil, Russia and China whereas Glenmark will retain exclusive rights in India and the rest of the world.
