Glenmark Pharmaceuticals receives $5 million as milestone payment from Sanofi

Glenmark Pharmaceuticals through its Swiss subsidiary has received $5 million as milestone payment from Sanofi on a collaboration of its VLA2 (alpha2-beta l) integrin monoclonal antibody. GBR 500 is a first-in-class therapeutic monoclonal antibody for chronic autoimmune disorders. The company has already received $50 million from Sanofi as an upfront payment in FY2011-12. Hence, the total amount received by Glenmark from Sanofi for its first in class VLA-2 monoclonal antibody is $55 million. Glenmark’s current portfolio consists of 90 products authorized for distribution in the US marketplace and 53 ANDA’s pending approval with the USFDA. In addition to these internal Filings, GGI continues to identify and explore external development partnerships to supplement and accelerate the growth of the existing pipeline and portfolio.