Glenmark Pharmaceuticals through its Swiss Subsidiary receives US$ 5 million milestone payment from Sanofi

Glenmark Pharmaceuticals through its Swiss Subsidiary receives US$ 5 million milestone payment from Sanofi

Mumbai  – Glenmark Pharmaceuticals Ltd. has informed the Stock Exchange today that the company through its Swiss subsidiary has received USD 5 million as milestone payment from Sanofi on a collaboration of its VLA2 (alpha2-beta1) integrin monoclonal antibody. GBR 500 is a first-in-class therapeutic monoclonal antibody for chronic autoimmune disorders. The total payment received by Glenmark from Sanofi for its first in class VLA-2 monoclonal antibody is USD 55 million.

Source: Glenmark Pharmaceuticals (link to full release)

About the author

Amitabh Arora

Amitabh Arora

Amitabh Arora has more than 18 years of experience promoting foreign direct investments (FDI), trade and economic relations between India and Switzerland, South Korea, United Kingdom and Canada. He is currently working as Director Key Accounts at the Greater Geneva Berne area (GGBa), the economic development agency of western Switzerland. GGBa offers a comprehensive range of services at no charge to foreign companies seeking to establish a presence in Switzerland. He is also the founder of FDITracker.com, tracking FDI developments worldwide. Amitabh has a Masters in International Business from the Indian Institute of Foreign Trade (IIFT) and a Bachelor of Business Studies (BBS) from College of Business Studies, India.

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