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PRESS RELEASE
Nicholas Piramal
Announces Drug Discovery and Development Agreement with Merck
& Co., Inc.
Mumbai, India 19 November 2007:
Nicholas Piramal India Limited (“NPIL”) (NSE:
NICOLASPIR, BSE: 500302) and Merck & Co., Inc., which operates
in India through its subsidiary, MSD Pharmaceuticals Private
Ltd, today announced a research and development collaboration
agreement to discover and develop new drugs for two selected
targets provided by Merck.
NPIL will be responsible for carrying out an integrated
drug discovery program from hits to leads through pre-clinical
candidate selection, followed by Investigational New Drug (IND
)-enabling non-clinical studies and human clinical trials
demonstrating proof-of-concept primarily for Oncology. Merck
will have an option to advance the most promising drug
candidates into late stage clinical trials and to
commercialize these drug candidates. NPIL will be eligible to
receive milestone payments associated with progress in the
development of drug candidates of up to $175 million per
target, plus royalties on sales of any products resulting from
the collaboration.
Commenting on the collaboration agreement, Dr. Swati Piramal,
Director - Strategic Alliances & Communications, NPIL said: “The
Merck-Nicholas Piramal research collaboration is a major step in
bringing the cross-border synergies to drug development which
should have cost, quality and time advantages and should benefit
patients worldwide in reducing the burden of disease.”
"Merck is excited to collaborate with a company with the
discovery and development capabilities of NPIL," said Merv
Turner, Ph.D., Senior Vice President, Worldwide Licensing and
External Research at Merck. "This agreement furthers our
strategy of building global alliances that expand and advance
Merck's pipeline, especially in countries such as India with
rapidly expanding drug discovery competencies"
For further information contact:
Vijay Sathye
Sagar Gokani
Nicholas Piramal India Limited
investorrelations@nicholaspiramal.co.in
Phone: +91-22-30466474 / 30466412 |
Ian
McConnell, PhD
Merck & Co., Inc.
Office: 9804323046
Cell: 9739015722 |
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Notes to editors:
About Nicholas Piramal India Limited:
Nicholas Piramal India Limited ("NPIL") is one of India's
largest pharmaceutical companies with a growth track record of
30% Revenues CAGR since 1988. The Company is currently ranked
fourth in the Indian market with a diverse product portfolio
spanning nine therapeutic areas. NPIL's had consolidated
Revenues of US $ 602 million in 2006-07. The Company has R&D
capabilities in Discovery Research, Custom Chemical Synthesis,
Process Innovation, and Drug Delivery Systems. It has
world-class USFDA-approved formulations and API facilities
without any 483s.
NPIL has a long track record of successful
collaboration with innovator companies. Since early-2000, the
Company has made significant investments in Discovery Research
and Custom Manufacturing Operations (CMO) for Innovator
Companies. Nicholas Piramal has a global CMO footprint across
North America, Europe & Asia, and is committed to respecting
Intellectual Property.
NPIL is listed in India on the Bombay Stock
Exchange and National Stock Exchange. For further information,
please mail
investorrelations@nicholaspiramal.co.in
or visit
www.nicholaspiramal.com.
About Merck & Co, Inc:
Merck & Co., Inc. is a global research-driven pharmaceutical
company dedicated to putting patients first. Established in
1891, Merck currently discovers, develops, manufactures and
markets vaccines and medicines to address unmet medical needs.
The company devotes extensive efforts to increase access to
medicines through far-reaching programs that not only donate
Merck medicines, but also help deliver them to the people who
need them. Merck also publishes unbiased health information as a
not-for-profit service. Merck operates in India through its
subsidiary, MSD Pharmaceuticals Private Ltd.
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