Glenmark Pharmaceuticals has informed the Bombay Stock Exchange that the company through its Swiss subsidiary has received $4 million as research fee payment from Forest Laboratories on a collaboration for the development of novel mPGES-1 inhibitors to treat chronic inflammatory conditions, including pain.
Under the terms of the agreement signed in FY 2012-13, Forest made $6 million upfront payment and also provided an additional $3 million to support the next phase of work. In September 2013, Glenmark received an additional amount of $2 million as research fee payment from Forest Laboratories. Hence, the total amount received by Glenmark from Forest Laboratories towards its novel mPEGS-1 inhibitors programme is $15 million.
EP News Bureau – Mumbai
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