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| Jubilant, Endo Pharma in pact for research in Oncology |
| Press Trust of India / Mumbai Jun 11, 2009, 19:11 IST |
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Drug firm Jubilant Organosys today said its subsidiary Jubilant Biosys has forged a three-year collaboration with US-based pharmaceutical firm Endo Pharmaceuticals for research in Oncology (dealing with tumors).
Bangalore-based Jubilant Biosys has entered into a discovery and development collaboration with Endo Pharma, Jubilant Organosys said in a filing to the Bombay Stock Exchange.
"We anticipate significant rewards on successful development of compounds and its subsequent commercialization," Jubilant Organosys CMD Shyam S Bhartia and Co-CMD Hari S Bhartia said in the statement.
As part of the agreement, Jubilant and Endo would collaborate initially to develop a portfolio of targets in the area of oncology.
"We are excited about this opportunity with Jubilant. We look forward to our collaboration with the goal of bringing new therapies and health-care solutions to patients," Endo Pharmaceuticals MD and Executive Vice-President (Research & Development) Ivan Gergel said.
Endo would own any compounds developed under the collaboration and would be responsible for worldwide commercialisation.
Under an initial three-year agreement, Jubilant would receive from Endo research funding and success-based development milestones and royalties on the successful commercialization of the compounds developed.
Shares of Jubilant Organosys today settled at Rs 169.50, down 0.62 per cent on the BSE.
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