PPD licenses Ranbaxy's novel statin

Indian generics giant Ranbaxy Laboratories says that US contract research organization PPD has acquired an exclusive worldwide license to develop, manufacture and market its novel statin for the treatment of dyslipidemia. The preclinical toxicology, drug metabolism and pharmacokinetic data suggest that the novel cholesterol-lowerer has the potential to offer an improved safety profile over currently-marketed statins, Ranbaxy noted. PPD plans to conduct additional preclinical studies and file an Investigational New Drug application with the US Food and Drug Administration in April 2007. Under the terms of the deal, Ranbaxy will be entitled to receive development and sales-based milestones and royalties. PPD will be responsible for all development and commercialization costs. Ranbaxy has retained co-marketing rights to the compound in India. Further financial terms were not disclosed.