Lupin, a Rs.5,700 crore Mumbai based pharma major has entered into a research and development agreement with Medicis Pharmaceutical Corporation (Medicis) to apply proprietary Lupin formulation technologies to multiple therapeutic compounds.
Under the terms of agreement, Lupin will receive a $20 million upfront payment from Medicis and will be primarily responsible for formulating certain novel therapeutic products for Medicis, utilizing several of Lupin's formulation technologies. Medicis will have global exclusive rights (excluding India) for he products developed under the agreement. Lupin will be eligible for future research, development, regulatory and other milestones of up to $38 million, as well as a single digit royalty on sales by Medicis. Medicis will be responsible for further development and commercialization of the licensed products.
Nilesh Gupta, group president and executive director, said, “We are very pleased to enter into this important collaboration with Medicis. This further substantiates our drug delivery capabilities in building and developing proprietary products.”
Meanwhile, Lupin and its US subsidiary, Lupin Pharmaceuticals Inc., have settled all ongoing litigation over Solodyn (minocycline HCI, USP) extended release tablets with Medicis. The settlement entitles Lupin to sell its generic versions of Solodyn in 45 mg, 90 mg, and 135 mg strengths under a license from Medicis commencing November 2011. Further, the settlement entitles Lupin to sell 65 mg and 115 mg strengths effective in February 2018 and in 55 mg, 80 mg and 105 mg strengths effective in February 2019.