Comments
In a landmark development, Lupin Limited on Monday announced a partnership with US-headquartered global biopharmaceutical player AbbVie Inc for developing novel oncology drug to treat haematological cancer.
Following the partnership, AbbVie gains exclusive global rights to develop and commercialise Lupin’s MALT1 (Mucosa-Associated Lymphoid Tissue Lymphoma Translocation Protein 1) inhibitors.
What the deal entails
Under the terms of the agreement, AbbVie will pay Lupin an upfront payment of $30 million for an exclusive licence to the program. Upon successful completion of regulatory, development and commercial milestones, Lupin is eligible to receive total milestone payments of up to $947 million.
Additionally, Lupin will be entitled to receive a double-digit royalty on the sales of the product and will retain commercial rights to the program in India, a Lupin statement said on Monday.
MALT-1 is a protein involved in T-cell and B-cell lymphocyte activation and AbbVie intends to pursue development across a range of haematological cancers, many with limited current treatment options.
Nilesh Gupta, Managing Director, Lupin Limited said, "We are very pleased to partner with AbbVie who share a commitment to deliver high quality medicines in areas that lack approved treatment and have a dire medical need. Their proven success in rapidly commercialising new targeted oncology treatments made them our partner of choice for this program."
Dr Raj Kamboj, President of Lupin’s Novel Drug Discovery and Development (NDDD) stated, "This is a first-in-class drug discovery program delivered exclusively by Lupin right from concept generation through the various stages of drug discovery and development.
Tom Hudson, M.D., Vice President, Discovery, AbbVie commented, "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."
Lupin shares were trading down by 2.89 per cent on the NSE at Rs 833.60 on Monday at about 12 pm.
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.