UPDATE 1-India's Glenmark sells pain drug rights to Eli Lilly http://www.reuters.com/article/companyNewsAndPR/idUSBOM28287820071030?sp=true
Tue Oct 30, 2007
(Adds more details, share price)
By Bharghavi Nagaraju
MUMBAI, Oct 30 (Reuters) - India's Glenmark Pharmaceuticals Ltd (GLEN.BO: Quote, Profile, Research) has agreed to sell the marketing rights for its experimental pain treatment molecule to Eli Lilly (LLY.N: Quote, Profile, Research) for an upfront fee of $45 million, the two firms said on Tuesday. Eli Lilly will have the rights to sell the compound, GRC 6211, in North America, Europe and Japan with Glenmark retaining the marketing rights for the rest of the world. http://www.reuters.com/article/companyNewsAndPR/idUSBOM28287820071030?sp=true