Glenmark In Deal With Chinese Firm Harbour Biomed For Innovative Molecule

Mumbai-based Glenmark Pharmaceuticals has entered into an exclusive license agreement with biopharmaceutical firm Harbour BioMed to develop, manufacture and commercialise the former’s novel oncology molecule (GBR 1302) for China. The exclusive license agreement, potentially worth more than $120 million (around Rs 8.2 billion), in addition to royalties.

This would give access to the Greater China market (China, Hong Kong, Macau and Taiwan) to Glenmark where it is not present at the moment. As such there is a shortage of affordable oncology molecules in China and Indian.-Business Standard