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Dr Reddy’s Laboratories and XenoPort have entered into a US licensing agreement.
Dr Reddy’s Laboratories will be paying an upfront fee of USD 50 million (Rs 335 crore) to XenoPort and up to USD 440 million (Rs 2,935 crore) on achievement of certain milestones.
The company said in a BSE filing that “Dr Reddy’s Laboratories and XenoPort, Inc have entered into a license agreement pursuant to which the company will be granted exclusive US rights for the development and commercialisation of XenoPort’s clinical-stage oral new chemical entity – XP23829.”
