Sanofi opened its checkbook again. This time in India as it inked a development deal with Glenmark Pharmaceuticals for therapeutic antibodies, and in particular to gain rights to a new MS therapy in development.
Sanofi will pay up to $663 million structured as $50 million in upfront payments and up to $613 million for reaching specified milestones. Sanofi will also have marketing rights to GBR 500, an antibody that combats inflammatory diseases like Crohn's disease and other autoimmune disorders.
"This is definitely significant because it's the first time an Indian company has developed the expertise to make biologic drugs" said Bino Pathiparampil, a pharma industry analyst.
Posted by Bruce Lehr May 17th 2011.