Lupin ties up with US-based AbbVie for cancer drug, to earn $ 1 billion

The drug maker will earn over $1 billion in fee, milestone payments, royalties from US firm

Lupin on Monday announced a partnership with US-based drug maker AbbVie to develop a novel cancer drug that will potentially earn it over $1 billion in fee, milestone payments and royalties.

The firm said the drug, being developed, would be a first of its kind to treat haematological cancers (blood cancer). The company expects accelerated approvals from regulators for the drug, which will cater to unmet patient need.  

According to the agreement, AbbVie will pay Lupin an upfront payment of $30 million for an exclusive licence for the drug. Upon successful completion of regulatory development and commercial milestones, Lupin is