Lupin Ltd. (LUPN.BO) in $58 Million Licensing Pact with Medicis (MRX)
7/25/2011 7:58:02 AM
Drugmaker Lupin said on Monday it has signed a pact with US-based Medicis Pharmaceutical Corp to develop multiple therapeutic compounds using the former’s formulation technologies. Lupin would receive an up front payment of $20 million from the US based Medicis in addition to various milestone payments of up to $38 million, the Indian company said in a statement. Medicis would have global exclusive rights for the products developed under the agreement. Lupin would receive single digit royalty on sales achieved by Medicis and hold marketing rights in India, it said.