Ranbaxy, Biotech Department in new drug discovery deal
Ranbaxy Laboratories has entered into a research agreement with the Department of Biotechnology, New Delhi, in the area of new drug discovery research.
By INDIATIMES NEWS NETWORK |
MUMBAI: Ranbaxy Laboratories has entered into a research agreement with the Department of Biotechnology, New Delhi, in the area of new drug discovery research. The research will be conducted under the aegis of Department of Biotechnology's major initiative in the area of tuberculosis.
Three major areas identified in the program are -- development of diagnostics, development of vaccines and development of drugs
Under the agreement, Ranbaxy will develop novel drugs, using inhibitor design for novel targets. Department of Biotechnology will support the project with a financial grant for three years. On identification of a lead molecule, both companies will jointly support its clinical development. A joint steering committee will be constituted to direct, manage and co-ordinate the collaboration.
At 12:33 pm, Ranbaxy shares were down 0.75 per cent at Rs 462.50 on BSE.
Three major areas identified in the program are -- development of diagnostics, development of vaccines and development of drugs
Under the agreement, Ranbaxy will develop novel drugs, using inhibitor design for novel targets. Department of Biotechnology will support the project with a financial grant for three years. On identification of a lead molecule, both companies will jointly support its clinical development. A joint steering committee will be constituted to direct, manage and co-ordinate the collaboration.
At 12:33 pm, Ranbaxy shares were down 0.75 per cent at Rs 462.50 on BSE.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
