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news.Glenmark Pharmaceuticals has announced that it's wholly owned Swiss subsidiary Glenmark Pharmaceuticals SA, has received a milestone of $15 million from Forest Labs, which is Glenmark's North American partner for Oglemilast.
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This follows a favourable response from FDA, allowing Forest to initiate an additional Phase II study in COPD for Oglemilast (GRC 3886). Glenmark and Forest Labs are working together closely to initiate additional studies for further longer term development of Oglemilast, including a Phase II study in Asthma.
GSA had entered into a collaborative agreement with Forest in September 2004, wherein Forest would develop, register and commercialize GRC 3886 for the North American market, while Glenmark will retain commercialization rights for the rest of the world.