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| Glenmark Managing Director Glenn Saldanha |
A licensing deal between India's Glenmark Pharmaceuticals and France's Sanofi ($SNY) has ended after the multiple sclerosis (MS) drug Sanofi was testing failed to meet its efficacy expectations. Glenmark is now seeking to relicense the monoclonal antibody vatelizumab (GBR 500), according to a report by NDTV.
"Sanofi has made the decision not to pursue further vatelizumab as a potential relapsing-remitting MS therapy, following the results of a pre-planned interim analysis that revealed the efficacy endpoint was not met," Glenmark said in a statement when releasing its quarterly results, according to NDTV.
The company said in those results that its net profit for the quarter ended September were up 19.8% due to revenue growth in the U.S. and in India.
Glenmark initially licensed the drug in May 2011 in a deal said to be worth $613 million, the report said.
Sanofi is believed to have received $55 million up to April 2014 under the pact, according to CNBC India. Under that deal, Sanofi was supposed to have exclusive marketing rights in North America, Europe, Japan, Argentina, Chile and Uruguay, and would co-market products with Glenmark in Russia, Brazil, Australia and New Zealand.
- here's the story from NDTV and one from CNBC India