Lupin receives over Rs 205 crore from AbbVie for meeting key product development milestone

Written by Ruchika Sharma Published On 2023-06-30T14:00:53+05:30 | Updated On 30 Jun 2023 2:00 PM IST

Lupin receives over Rs 205 crore from AbbVie for meeting key product development milestone

Mumbai: Global pharma major Lupin Limited has announced the achievement of a key milestone for its novel MALT1 (Mucosa-Associated Lymphoid Tissue Lymphoma Translocation Protein 1) inhibitor program that is partnered with AbbVie Inc. towards treatment across a range of hematological cancers.

As part of the agreement, Lupin has received USD 25 million from AbbVie for initiation of Phase 1 clinical studies successfully. Lupin had earlier received USD 30 million from AbbVie for achievement of other milestones in the program.

Lupin and AbbVie inked the licensing, development, and commercialization agreement in 2018 for this novel oncology drug to treat Hematological Cancers. Lupin’s MALT1 inhibitor developed as part of its oncology pipeline had previously shown pre-clinical activity as a single agent as well as in combination.

“This achievement is further validation of our ability to successfully develop novel treatments for unmet needs. We look forward to continued successful development of this important treatment for patients with difficult-to-treat cancers,” said Nilesh Gupta, Managing Director, Lupin.

Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India. The Company develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions. The Company specializes in the cardiovascular, anti-diabetic, and respiratory segments and has a significant presence in the anti-infective, gastro-intestinal (GI), central nervous system (CNS), and women’s health areas. The company invested 7.9% of its revenue in research and development in FY23.

Lupin has 15 manufacturing sites, 7 research centers, more than 20,000 professionals working globally, and has been consistently recognized as a ‘Great Place to Work’ in the Biotechnology & Pharmaceuticals sector.

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Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751