Glenmark Pharmaceuticals Signs Asthma Drug Deal With Japanese Firm; $53 Million
10/19/2005 5:10:53 PM
BOMBAY, April 26 (Reuters) - India's Glenmark Pharmaceuticals Ltd. (GLEN.BO: Quote, Profile, Research) said on Tuesday it had licensed an asthma treatment molecule to Teijin Pharma Ltd. for development and marketing in Japan, in a deal worth up to $53 million.
This follows a tie-up with U.S. rival Forest Labs Inc. (FRX.N: Quote, Profile, Research) for development and marketing of the drug, which aims to treat chronic obstructive pulmonary disorder (COPD), in North America. The deal with Forest, worth up to $190 million, is the largest licensing agreement struck by any Indian drug maker.