Business Today
PTI feed
Story

Lupin partners with AbbVie to develop, commercialise novel oncology drug

twitter-logo PTI        Last Updated: December 24, 2018  | 11:23 IST

New Delhi, Dec 24 (PTI) Drug firms Lupin and AbbVie Monday announced a partnership to develop and commercialise Lupin's novel oncology drug to treat hematological cancers for an upfront fee of USD 30 million and up to USD 947 million on achieving certain milestones. Under the terms of the agreement, AbbVie will pay Lupin an upfront payment of USD 30 million (approx Rs 210 crore) for an exclusive licence to the programme. Upon successful completion of regulatory, development and commercial milestones, Lupin is eligible to receive total milestone payments of up to USD 947 million (approx Rs 6,655 crore), Lupin said in a regulatory filing. Additionally, Lupin will be entitled to receive a double-digit royalty on the sales of the product and will retain commercial rights to the programme in India, the company added. AbbVie has licensed Lupin's MALT1 (Mucosa-Associated Lymphoid Tissue Lymphoma Translocation Protein1) inhibitor programme. Through this partnership, AbbVie gains exclusive global rights to develop and commercialise Lupin's MALT1 inhibitors. Lupin said AbbVie intends to pursue development across a range of hematological cancers, many with limited current treatment options. Lupin Managing Director Nilesh Gupta said the company has partnered with AbbVie which shares the commitment to deliver high quality medicines in areas that lack approved treatment and have a dire medical need. Tom Hudson, MD, Vice President, Discovery, AbbVie said, "Lupin's MALT1 program is exploring a new and innovative approach in difficult-to-treat cancers. AbbVie is committed to pursuing advanced treatment options for patients and we look forward to partnering our expertise in hematological oncology with Lupin's discovery program to offer new hope to patients". Shares of Lupin were trading 0.29 per cent lower at Rs 854.85 apiece on BSE. PTI SVK ANS ANS

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close