November 29, 2013 / 11:46 IST
Cadila Pharmaceuticals Ltd today said it has signed an agreement with UK-based antibiotics discovery firm Helperby Therapeutics for antibiotic drug resistance research & development.
Also read: Will Wockhardt's loss be Dr Reddy's gain? Analysts think so"Global market size of antibiotics is estimated to be around USD 69 billion," Cadila Pharmaceuticals said in a statement.
As per the licensing agreement, Helperby will take the compound through further clinical trials, approvals and into commercialisation, it added.
Helperby will supply Cadila Pharmaceuticals with antibiotic resistance breakers whilst Cadila Pharmaceuticals will develop the combinations with old antibiotics, the company said.
The company's however did not give any details about the financials.
Commenting on the development, Cadila Pharmaceuticals Chairman and Managing Director Rajiv I Modi said: "Cadila Pharmaceuticals' collaboration with Helperby can help the mankind win the battle against the microbes and hopefully save millions of lives in coming years."
When an antibiotic resistance breaker is combined with an old obsolete antibiotic, it can rejuvenate it and make it active against highly resistant bacteria, the company said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!