Glenmark Pharmaceuticals

Glenmark Arm Gets $ 15 Mn As Milestone Fees From Forest Labs

Glenmark PharmaceuticalsGlenmark Pharmaceuticals Ltd has announced that its Swiss unit, Glenmark Pharmaceuticals SA, has received USD 15 Million as milestone fees from Forest Laboratories, its North American partner, for an anti-asthma drug Oglemilast molecule.

Both companies are working together to initiate additional studies for further longer term development of oglemilast, including a Phase II study in Asthma.