NEW DELHI: American biopharmaceutical company AbbVie will pay an upfront fee of USD 30 million (around Rs 210 crore) to Mumbai-based drug company Lupin for an exclusive licence to develop and commercialise the latter’s oncology drug. Both the companies on Monday announced a partnership in this regard.
Lupin’s MALT 1 (Mucosa-Associated Lymphoid Tissue Lymphoma Translocation Protein 1) inhibitor programme, which AbbVie has licensed through the deal, will treat haematological cancers. As per the agreement, AbbVie will pay Lupin USD 30 million upfront for the licence. This could go up to USD 947 million (Rs 6,655 crore), depending on the successful achievement of regulatory, development and commercial milestones.
Lupin will additionally receive a double-digit royalty on the sale of the drug. It will also have commercial rights to the programme in India, the domestic drug company said in a regulatory filing.