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news.Cornerstone BioPharma and Lupin Ltd have penned a development and licensing agreement to collaborate in the clinical development of a novel drug delivery system for an anti-infective product.
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In the agreement, Cornerstone has the rights to sell and market the prescription drug in the US, upon FDA approval. Lupin will receive, in aggregate, an amount of $10.5 million of which a part is linked to the achievement of certain milestones. Lupin will also receive royalties on the sale of the product once it is approved by the FDA.
“I believe that this is only the second instance of an Indian company licensing out a novel drug delivery system (NDDS) product,” said Lupin’s chairman, Dr DB Gupta. “We value our partnership with Cornerstone and are sure that their marketing expertise in the US will go a long way in realizing the full potential of this product.”
The oral solid anti-infective market in the US represents approximately $10.2 billion. According to the two companies, the partnership will bring significant clinical value to the $1.3 billion branded US anti-infective segment in which it will be utilized.