Ranbaxy announces “significant landmark” in research

Ranbaxy has announced its research collaboration programme with GlaxoSmithKline (GSK) has achieved a “significant landmark”.

The company said it had initiated trials on the lead compound for respiratory inflammation and, following successful completion, hopes to progress the candidate.

As a result, Ranbaxy noted it will receive a milestone payment for initiating the studies and GSK can then progress development towards commercialisation.

President of Drug Development and Clinical Research at Ranbaxy Dr Sudershan Arora said: “Ranbaxy’s development team has the capability to conduct clinical studies on NCEs and is looking forward to advancing this lead compound through to proof of concept studies.”

Senior vice-president of the company’s department Dr Pradip Bhatnagar added he was “elated” with the development, noting the team was “excited” its efforts were being “brought to fruition”.

The company said it could receive $100 million (66.9 million pounds) in milestone payments from the partnership, which was initiated in 2003 and expanded in February 2007.

Last month, Ranbaxy announced the reconstitution of its board of directors.

Approved by its members, the change will see Malvinder Mhan Singh additionally taking on the role of chairman of the board.

Speaking at the time, he said he was “confident” Ranbaxy will make a “significant contribution” to the Daiichi Sankyo Group.