Torrent Pharma, AstraZeneca in R&D deal

Torrent Pharmaceuticals has signed a research collaboration agreement with AstraZeneca, and aims at discovering a novel drug candidate for the treatment of hypertension.

As per the agreement, the pharma majors will fund the research project jointly in equal proportion, according to a release issued to the BSE.

The agreement states that Torrent would receive success-based R&D milestone payments, and also royalties based on the commercialization of the drug candidate.

Torrent Pharma would also get co-marketing rights of the products for its home market, India. Financial terms of the agreement were not disclosed, the release added.

Hypertension has immense global and local prevalence. WHO 1999 reports that 1 out of every 3 deaths in India is due to heart diseases. Amongst several risk factors associated with this growing menace, hypertension has been established as a key risk factor for heart disease, stroke and renal failure.

Mr. Samir Mehta, Managing Director, Torrent Pharma says: "Over time, we have developed a sound R&D foundation that helps us enter research collaborations with foreign partners with confidence. It is encouraging to know that foreign MNCs are finding us attractive to engage in collaborative research. We are sure that the returns would be substantial and mutually beneficial."

Collaborations with foreign partners are not new to Torrent Pharma. Last year, Torrent out licensed its patented AGE Breaker molecule to Novartis Pharma AG. The deal envisages development milestone payments and loyalties once the product reaches the market.