Ranbaxy Laboratories Limited (Ranbaxy) announced today that its New Drug Discovery Research (NDDR) team has achieved a significant milestone in its collaboration with GSK. The Steering Committee, consisting of senior members from GSKs Center of Excellencefor External Drug Discovery (CEEDD) and Ranbaxy, has approved the candidate selection of a compound for Respiratory Inflammation.
As per the recently signed multi-year agreement, Ranbaxy will be able to progress and further profile this drug candidate through pre-clinical studies needed to support an Investigational New Drug (IND) application. Ranbaxy will also be responsible for conducting Phase I and Phase II clinical studies through to Proof of Concept. GSK will then have the option to conduct further development through to final commercialization.
Commenting on the progress of the alliance, Dr. Pradip Bhatnagar,Senior Vice President, New Drug Discovery, Ranbaxy, said, "A dynamic collaboration between GSKs CEEDD and Ranbaxy has been the key for this success. This achievement also reflects the discovery capabilities of Ranbaxy's research team and the growing partnership between the two organizations in the area of NCE research."
This is a major landmark in the GSK-Ranbaxy R&D collaboration, initiated in 2003, and further expanded in February 2007. The new milestone payments and royalties, as enumerated in the revised agreement, will apply to this current development program and to future discovery programs. The Ranbaxy-GSK alliance envisages strong research workflow to emanate from a wide range of therapeutic areas of interest to Ranbaxy and GSK, including anti-infectives, metabolic disorders, respiratory and oncology.
Ranbaxy could receive over USD 100 Mn in potential milestone payments for a product developed by Ranbaxy and subsequently launched by GSK in multiple indications and up to double digit royalties on worldwide net sales.
