Pharmaceutical Outsurcing Forest Laboratories Outsources Painkiller Development
Glenmark Pharmaceuticals and Forest Laboratories join forces in a research and development agreement for painkillers: Both companies agreed on a collaboration for the development of novel mPGES-1 inhibitors to treat chronic inflammatory conditions.
Mumbai/India – Under the terms of the agreement, Forest will make a US $ 6 million upfront payment to Glenmark and provide an additional $3 million to support the next phase of work. Forest will make other future payments in FY 2014 to support the advancement of the ongoing mPGES-1 inhibitors program. Forest has an exclusive option to obtain license rights to the program upon the completion of Phase 1 clinical trials.
“This collaboration reinforces our strategy of partnering to achieve our goal of launching innovative technologies around the world," said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals. "Forest has an unrivalled reputation as a world leading pharmaceutical company. We’re proud to be associated with them and look forward to working together. The partnership combines Glenmark's proven track record of leadership and expertise in rapid, innovative product development, and world-class manufacturing network with Forest’s development and regulatory expertise and a strong commercial footprint.”