Comments
Glenmark Pharmaceuticals, through its Swiss subsidiary, has received $5 million (around ₹30.1 crore) milestone fee payment from French pharmaceutical company Sanofi SA, for its collaboration on a monoclonal antibody for chronic autoimmune disorders. The Mumbai-based drug maker had out licensed the molecule to Sanofi and had received an upfront payment of $50 million from the French drugmaker in 2012. As of now, the total amount received by Glenmark from Sanofi for its drug molecule is $55 million.
Glenmark shares closed at Rs 581.35 on the BSE, up 1.23 per cent.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.