Glenmark sells rights to new drug to Sanofi
Posted: Mon May 16, 2011 7:01 am
India's Glenmark Pharmaceuticals said it has agreed to license out development and commercialization rights of a biologic treatment it is developing to France's Sanofi-Aventis S.A.
The drug, code-named GBR500, is aimed at treating Crohn's disease and other inflammatory conditions such as multiple sclerosis, the company said in a statement.
The announcement sent Glenmark's shares to a one-month high as the agreement is expected to revive investor interest in the company's drug discovery and research program, which has been hit by the slow pace of fresh licensing deals and some contract terminations in the past few years............ Read More - http://www.msrc.co.uk/index.cfm/fuseact ... ageid/2479