Glenmark Pharmaceuticals S.A (GPSA), a wholly owned subsidiary of Glenmark Pharmaceuticals, India (GPL), has entered into an agreement with Sanofi-aventis to grant Sanofi-Aventis a license for the development and commercialization of novel agents to treat chronic pain.

Under the terms of the agreement, Glenmark will receive an upfront payment of US$ 20 million, as well as development, regulatory and commercial milestone payments. All such payments could reach a total of US$ 325 million. In addition, Glenmark is eligible to receive tiered double-digit royalties on sales of products commercialized under the license. Sanofi-aventis will have exclusive marketing rights for North America, European Union and Japan subject to Glenmark's right to co-promote the products in the United States and five Eastern European countries. Sanofi- aventis will also have co-marketing rights in 10 other countries including Brazil, Russia, and China, whereas Glenmark will retain exclusive rights in India and other countries of the rest of the world.