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Jul 25, 2011, 04.47 PM IST | Source: Moneycontrol.com

Lupin & Medicis enter into joint development agreement

Lupin Limited announced that it has entered into a research and development agreement with Medicis Pharmaceutical Corporation (Medicis) to apply proprietary Lupin formulation technologies to multiple therapeutic compounds.

Lupin & Medicis enter into joint development agreement

Lupin Limited announced today that it has entered into a research and development agreement with Medicis Pharmaceutical Corporation (Medicis) to apply proprietary Lupin formulation technologies to multiple therapeutic compounds.

                                                                                                                       

Under the terms of the agreement, Lupin will receive a $20 million upfront payment from Medicis and will be primarily responsible for formulating certain novel therapeutic products for Medicis, utilizing several of Lupins formulation technologies. Medicis will have global exclusive rights (excluding India) for the products developed under the agreement. Lupin will be eligible for future research, development, regulatory and other milestones of up to $38 million, as well as a single digit royalty on sales by Medicis. Medicis will be responsible for further development and commercialization of the licensed products.

 

We are very pleased to enter into this important collaboration with Medicis said Nilesh Gupta, Group President and Executive Director of Lupin Limited. This further substantiates our drug delivery capabilities in building and developing proprietary products.

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