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Glenmark receives $5 million milestone payment from Sanofi

Our Bureau, MumbaiTuesday, April 15, 2014, 13:30 Hrs  [IST]

Glenmark Pharmaceuticals, a Rs.5,000 crore plus pharma major, has received US$ 5 million milestone payment through its Swiss subsidiary from Sanofi on a collaboration of its VLA2 (alpha2-beta1) integrin monoclonal antibody. GBR 500 is a first-in-class therapeutic monoclonal antibody for chronic autoimmune disorders.

The company has already received $ 50 million from Sanofi  as an upfront payment in FY2011-12. Hence, the total amount received by Glenmark from Sanofi for its first in class VLA-2 monoclonal antibody is USD 55 million.

 
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