Under the terms of the agreement, AbbVie will pay Lupin an upfront payment of $30 million for an exclusive license to the program.
Lupin shares gained 2 percent in morning on Monday after the company signed partnership agreement with AbbVie for making novel oncology drug.
"AbbVie has licensed Lupin's MALT1 (Mucosa-Associated Lymphoid Tissue Lymphoma Translocation Protein 1) inhibitor program," the pharma major said in its filing.
Through this partnership, AbbVie gains exclusive global rights to develop and commercialise Lupin's MALT1 inhibitors.
MALT-1 is a protein involved in T-cell and B-cell lymphocyte activation. "AbbVie intends to pursue development across a range of hematological cancers, many with limited current treatment options," Lupin said.
Under the terms of the agreement, AbbVie will pay Lupin an upfront payment of $30 million for an exclusive license to the program.
Upon successful completion of regulatory, development and commercial milestones, Lupin is eligible to receive total milestone payments of up to $947 million. Additionally, the company will be entitled to receive a double-digit royalty on the sales of the product and will retain commercial rights to the program in India.
Commenting on the partnership announcement, Raj Kamboj, President of Lupin's Novel Drug Discovery and Development (NDDD) said this is a first-in-class drug discovery program delivered exclusively by Lupin right from concept generation through the various stages of drug discovery and development.
At 09:57 hours IST, the stock was quoting at Rs 865.55, up Rs 8.20, or 0.96 percent on the BSE.
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