Glaxo and Ranbaxy Strike a New Deal
Make a commentBy Ed Silverman // February 6th, 2007 // 7:02 am
And it’s worth up to $100 million.
The agreement actually updates one signed in 2003 in which Ranbaxy would do the chemistry and let Glaxo decide which drugs to pursue. Now, though, Ranbaxy will conduct ‘proof of concept’ work before turning drugs over to Glaxo for commercialization. And the deal covers various therapeutic categories, including oncology, anti-infectives and respiratory.
“This is a great moment for our scientists,” says Ranbaxy ceo Malvinder Singh, in a statement. “The agreement presents a unique opportunity to demonstrate the India centric advantages of high quality research and development to deliver value at the cutting edge. I believe the arrangement with GSK is path-breaking and acknowledges the higher level of R&D maturity prevalent today in our state-of-the art labs in India.”
[tags]GlaxoSmithKline, Ranbaxy[/tags]