The Hindu Business Line : Torrent Pharma, Novartis tie up

MUMBAI: TORRENT Pharmaceuticals Ltd has entered into a licence agreement with the Swiss-based Novartis Pharma AG for global rights to a cardiac drug being developed by Torrent.

The Ahmedabad-based company's advanced glycosylation endproducts (AGE) breaker compound has its application in the treatment of heart disease and diabetes-related vascular complications.

Torrent had received an initial sum of $0.5 million as option fees, the company told the BSE.

The licence agreement entitles it to receive an upfront payment of $3 million and provides exclusive global right to Novartis for future development and commercialisation of the compound, it added.

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