Issue Date: November 5, 2007
Lilly Licenses A Drug From Glenmark
Eli Lilly & Co. will pay Glenmark Pharmaceuticals $45 million up front and a possible $215 million more in milestones for a portfolio of molecules called transient receptor potential vanilloid subfamily 1 (TRPV1) antagonists, which are being developed in a range of pain indications. Lilly gains North American, European, and Japanese marketing rights to GRC 6211, Glenmark's lead TRPV1 antagonist, currently in Phase II trials to treat osteoarthritic pain. Mumbai-based Glenmark started out as a formulations and bulk drug manufacturing company but, in 2001, made a major push into drug discovery. It already has licensing deals with Merck KGaA and Forest Laboratories.
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