Glenmark Pharmaceuticals, through its Swiss subsidiary, has received $5 million (around ₹30.1 crore) milestone fee payment from French pharmaceutical company Sanofi SA, for its collaboration on a monoclonal antibody for chronic autoimmune disorders. The Mumbai-based drug maker had out licensed the molecule to Sanofi and had received an upfront payment of $50 million from the French drugmaker in 2012. As of now, the total amount received by Glenmark from Sanofi for its drug molecule is $55 million.
Glenmark shares closed at Rs 581.35 on the BSE, up 1.23 per cent.