PPD deal worth $44 m for Ranbaxy.
Economic Times (New Delhi, India), March, 2007
Mar. 10--BANGALORE, India -- The recent in-licensing deal between Indian pharma major Ranbaxy and PPD, a Nasdaq-listed contract research organisation (CRO), could be worth up to $44 million for the Gurgaon-based company, the Wilmington, North Carolina-based CRO has said.
In its form 8-K filings with Securities and Exchange Commission (SEC), PPD has also admitted to paying Ranbaxy $250,000 as a one-time licence fee.
PPD (2006 sales $1.24 billion) is one of the world's leading CROs along with Quintiles and Covance. CROs specialise in global clinical trials to test the efficacy and commercial viability of molecules.
In-licensing refers to the arrangement by which one contracting party buys the right to use a patent from another. Such deals are...
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