Napo Pharmaceuticals Inc, the innovator company behind anti-diarrhoea drug crofelemer, is finding itself in litigation with its partners. The company owns crofelemer, a novel anti-diarrhoeal drug under development, which is in advanced stages in the clinial trial process and is widely anicipated to hit the market.
Glenmark Pharma
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Glenmark’s share rises by 4% on Salix payment for crofelemer
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Glenmark Pharmaceuticals has received $15 million, or about Rs 66.75 crore, from Salix Pharmaceuticals Inc, USA to upgrade its manufacturing facilities for crofelemer, a drug used to treat HIV induced diarrhoea.
Salix had earlier agreed to pay Glenmark USD 21.6 million as commitment fees in addition to the purchase price for the drug. Crofelemer has been in-licensed by Glenmark from Napo Pharmaceuticals, USA and the drug is currently undergoing Phase 3 clinical trials in the US.
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Glenmark’s GRC15300 clears Phase I trials, share up 3%
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Glenmark Pharmaceuticals Ltd announced that a molecule under development in its labs has cleared the first phase of human clinical trials. Glenmark Pharmaceuticals S.A, a subsidiary of Glenmark, conducted the trials in the UK and said that the drug has been well tolerated with a good pharmacokinetic profile. Pharmacokinetics refers to how the body behaves when a drug enters the blood stream.