Sanofi Snaps Up Glenmark’s Promising Painkiller

3 May 2010 (Last Updated May 3rd, 2010 18:30)

India's Glenmark Pharmaceuticals has agreed to sell development and commercialisation rights of their promising new painkiller to France's Sanofi-Aventis SA. Glenmark will receive an upfront payment of $20m for the molecule known as GRC 15300 and will also be eligible for milestone paym

India's Glenmark Pharmaceuticals has agreed to sell development and commercialisation rights of their promising new painkiller to France's Sanofi-Aventis SA.

Glenmark will receive an upfront payment of $20m for the molecule known as GRC 15300 and will also be eligible for milestone payments that could total $325m.

GRC 15300 is currently in the first phase of human trials as a treatment for various pain conditions, including diabetic neuropathic pain and osteoarthritic pain.

Glenmark will also be eligible to receive royalties in double-digit percentages of potential sales after the product launch, which is expected in the next five to six years.

Sanofi-Aventis will have exclusive marketing rights for North America, the European Union and Japan, subject to Glenmark's right to co-promote the products in the US and five Eastern European countries.

Sanofi-Aventis will also have co-marketing rights in ten other countries, including Brazil, Russia and China, whereas Glenmark will retain exclusive rights in India and other countries in the rest of the world.