India: Now a Partner for Innovation
Sanofi Adds Glenmark Antibody to Portfolio for Potential $613M
By Catherine Shaffer
Tuesday, May 17, 2011
Glenmark Pharmaceuticals SA, a subsidiary of Glenmark Pharmaceuticals Ltd. India, based in Mumbai, licensed its monoclonal antibody GBR 500 to Paris-based Sanofi-Aventis SA for an up-front payment of $50 million, plus potential future milestone payments and double-digit royalties, for a total deal value up to $613 million. Glenmark said the deal is the largest of its kind from an emerging market, and is the first example of a novel biologic entity being licensed out of an emerging market.
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