Thursday, December 06, 2007 18:15 IST Our Bureau, Mumbai
Jubilant Biosys, a subsidiary of Jubilant Organosys have entered into the collaboration agreement to discover small molecule drug candidates for a novel metabolic disorders target with Forest Laboratories. Jubilant Biosys will conduct the drug discovery work and Forest will have responsibility for the subsequent pro-clinical and clinical development. Forest will own the drugs discovered under the collaboration with unencumbered worldwide commercialization rights. Under the terms of the collaboration, Forest will pay Jubilant undisclosed amounts towards research funding, development and commercialization milestones.
Commenting on the development, Shyam S Bhartia, chairman and managing director and Hari S Bhartia, co-chairman and managing director of Jubilant Organosys, said, ``We are very pleased to partner with Forest Laboratories, an important pharmaceutical company. This collaboration leverages the innovation capabilities of Jubilant Biosys in pharmaceutical discovery and pre-clinical development, as well as combining these strengths with Forest Laboratories, a proven successful development and commercialization company, to deliver new products with cost effective efficiency that will help patients around the world. This partnership continues to demonstrate Jubilant`s strategy to be Indias`s largest innovation driven integrated pharmaceutical services provider supporting the global pharmaceutical industry``.
Ivan Gergel, senior vice president of scientific affairs and president of the forest research institute, said, "This partnership is part of forest laboratories continued effort in India to access and develop robust partnerships to grow our discovery pipeline and access innovation across the globe. We are very pleased with Jubilant's quality of people capabilities and infrastructure for pharmaceutical discovery".
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