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New Delhi April 2 Ranbaxy Laboratories and GlaxoSmithKline have decided to develop a drug in the respiratory segment, as the first of their joint drug discovery collaboration.

In February this year, the two companies expanded their R&D association started in 2003. As per the new arrangement Ranbaxy will conduct clinical proof of concept, Phase 1 and Phase 2 clinical trials before GSK takes on the further development leading to final commercialisation of the drug. The company has estimated earnings of over $100 million (Rs 430.5 crore) in potential milestone payments, and up to double digit royalties for worldwide sales for each product developed under this collaboration. The Gurgaon-based company has retained co-marketing rights for the Indian market.

In a company statement, Ranbaxy said that a team of senior members from GSK's Centre of Excellence for External Drug Discovery (CEEDD) and its own New Drug Discovery division had approved the candidate selection of a compound for respiratory inflammation.

More Stories on : Alliances & Joint Ventures | Pharmaceuticals | Ranbaxy Laboratories Ltd | Glaxosmithkline Pharmaceuticals Ltd

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