Glenmark, Sanofi in drug deal

May 04, 2010 |

New Delhi, May 3: Glenmark Pharmacueticals on Monday said that it has agreed to give a license to develop new molecules aimed at treating pain to France’s Sanofi Aventis, a deal that could fetch the Mumbai-based firm up to $325 million (about Rs 1,435 crore).

“Glenmark will receive an upfront payment of $20 million, as well as development, regulatory and commercial milestone payments. All such payments could reach a total of $325 million,” it said.

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