Ranbaxy gets $4-M milestone payment

By siliconindia staff writer   |   Wednesday, 23 June 2004, 07:00 Hrs
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MUMBAI: Ranbaxy Laboratories Ltd said on Wednesday it has received a milestone payment of $4 million from Schwarz Pharma AG for further development of its benign prostate hyperplasia molecule licensed to the German firm.
Ranbaxy had licensed the molecule to Schwarz in June 2002.

Schwarz Pharma completed Phase I clinical trials in Europe and the molecule is now moving into Phase II trials in Europe and South Africa, Ranbaxy said in a statement.

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