Friday, May 06, 2005
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Staff Correspondent
MUMBAI: Lupin Ltd. and Cornerstone BioPharma Inc. have announced a development and licensing agreement under which both companies will collaborate in the clinical development of a novel drug delivery system (NDDS) for an anti-infective product. Cornerstone will have the rights to sell and market the prescription drug in the U.S., upon FDA approval. The oral solid anti-infective market in the U.S. represents about $10.2 billion. As part of the development agreement, Lupin will receive, in the aggregate $10.5 million of which a part is linked to the achievement of certain milestones. Lupin retains manufacturing rights and will also receive royalty on sale of the product once it is approved by the USFDA. Lupin Chairman, D. B. Gupta, said, "This deal validates Lupin's strategy of applying novel drug delivery platforms to create value added products in chosen therapeutic areas conforming to global standards. I believe that this is only the second instance of an Indian company licensing out an NDDS product." The CEO, Cornerstone, Craig Collard, said the deal incorporated Lupin's expertise in development and manufacturing of patented delivery systems, while confirming Cornerstone's ability to commercialise products in the U.S. market. It also reflected both parties' interests in the development of prescription medications. The U.S.-based Cornerstone is an emerging specialty pharmaceutical company that is now focused on the development and commercialisation of niche prescription medications in the pain, anti-infective and respiratory markets. The privately held company owns the rights to a pain product line and three respiratory product lines and co-promotes the Suprax antibiotic.
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