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news.Indian pharma firm Lupin has signed a research and development pact with the US based pharma firm Medicis Pharmaceutical for the development of multiple therapeutic compounds by using Lupin formulation technologies.
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As per the terms of the agreement, Medicis is responsible to pay sum of $20m as an upfront payment to Lupin.
The tie up allows Lupin to develop certain novel therapeutic products for Medicis, using several of its formulation technologies.
However, Medicis will have global exclusive rights (excluding India) for the products developed under the agreement and will be responsible for further development and commercialization of the licensed products.
Medicis is also responsible to pay up to $38m as future development, research, regulatory and other milestones to Lupin.