Lupin inks $10.5mn licensing deal with Cornerstone

Lupin and Cornerstone BioPharma Inc (Cornerstone) today announced a development and licensing agreement for the development of a novel drug delivery system (NDDS) for an anti-infective product.

According to a release issued by Lupin to the BSE today, Cornerstone has the rights to sell and market the prescription drug in the US after FDA approval.

"As a part of the development agreement, the company will receive, in aggregate, an amount of $10.5 million of which a part is linked to the achievement of certain milestones. The company retains the manufacturing rights, and will also receive royalty on sale of the product once it is approved by USFDA," the release added.