$5 million milestone for India’s Glenmark from Sanofi

15 April 2014

Indian drugmaker Glenmark Pharmaceuticals (532296: BSE) says it has informed the Stock Exchange that it has received $5 million milestone payment through its Swiss subsidiary from French drug major Sanofi (Euronext: SAN).

The payment is under a collaboration of its VLA2 (alpha2-beta1) integrin monoclonal antibody. GBR 500 a novel monoclonal antibody for the treatment of Crohn’s disease and other inflammatory conditions (The Pharma Letter May 17, 2011).

The company has already received $50 million from Sanofi as an upfront payment in fiscal year 2011-12, meaning that the total amount received by Glenmark from Sanofi for its first in class VLA-2 monoclonal antibody is $55 million. The total payments under the agreement could reach more than$600 million.

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