GSK in global health deals16th June 2009
UK-based pharmaceutical giant GlaxoSmithKline has announced plans to team up with India's Dr Reddy's to develop drugs for emerging markets outside India.
GSK said the new collaboration would bring the company exclusive rights to market the Indian company's drugs in all developing countries bar India.
Currently, Dr Reddy's has around 100 drugs on sale or in development in health areas like cardiovascular, diabetes, oncology, gastroenterology and pain management.
At the same time, GSK dropped its partnership with US-based Synta to develop cancer drug elescomol, the worldwide rights for which will revert to Synta.
Potential future sales of the drug may generate a low royalty payment, Synta said.
GSK also recently announced plans to open a state-of-the-art vaccine plant in Singapore, its biggest Asian investment and the company's first primary vaccine manufacturing facility.
The S$600 million (US$412 million) plant will hire around 200 staff for full training in operating the facility.
It will also set up a brains trust endowment fund in partnership with the government to boost training in green manufacturing and public health policy.
The city state is currently the headquarters for GSK's Asian operation, which already includes two global manufacturing and supply sites, and employs more than 1,000 staff.
Global biomedical sciences companies invested more than US$500 million during 2008, hoping to make use of a fast-expanding market and world-class scientific and clinical expertise.
Access to key regional markets as well as strategic partnership opportunities with research institutes, corporate labs and public hospitals are among the factors attracting them.
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Title: GSK in global health deals
Author: Luisetta Mudie
Article Id: 11744
Date Added: 16th Jun 2009