New Delhi, May 12 (UNI) Country's leading drug maker Ranbaxy Laboratories Ltd and US-based Merck&Co Inc today said they have signed a strategic agreement' for drug discovery and clinical development collaboration of new products, in the anti-infective field.
Under the terms of the agreement, Ranbaxy will be paid an undisclosed upfront sum, with the potential to receive payments totaling more than 100 million dollars associated with the achievement of various research, development and regulatory approval milestones for each target included in the collaboration.
Ranbaxy is also eligible to receive significant royalties on worldwide net sales of any products commercialized under the Agreement.
The two companies will work together to develop clinically validated anti-bacterial and anti-fungal drug candidates.
Ranbaxy will carry-out drug discovery and clinical development through Phase IIa clinical trials, with Merck conducting development and commercialization of drug candidates thereafter.
The agreement provides that the collaboration will begin this year with an initial term of five years and can be extended mutually thereafter by the parties.
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