 "Glenmark receives $4 mn payment from Forest Labs")
Glenmark Pharmaceuticals Ltd., through its Swiss subsidiary has received $4 million as research fee payment from Forest Laboratories Inc.. The collaboration is for the development of novel mPGES-1 inhibitors to treat chronic inflammatory conditions, including pain.
Under the terms of the agreement signed in FY 2012-13, Forest made $6 million upfront payment and also provided an additional $3 million to support the next phase of work. In September 2013, Glenmark received an additional amount of $2 million as research fee payment from Forest Laboratories.
So far, Glenmark has received a total amount of $15 million from Forest Laboratories towards its novel mPEGS-1 inhibitors.