Glenmark seeks arbitration after U.S. co breaches pact
REUTERS - Glenmark Pharmaceuticals said on Tuesday it has sought an Arbitration in the U.S. as Napo Pharmaceuticals has no basis for terminating a Collaboration Agreement with it to develop and market an HIV-associated diarrhoea drug. Napo Pharma had terminated the pact on November 10, according to a press release posted the U.S.-based firm's website. The move is a fresh hurdle to Glenmark's ambitious plans to exclusively market the drug, Crofelemer, in 140 countries. Reacting to the news, shares of Glenmark declined more than 6 percent in early trade in a volatile Mumbai market. At 11:31 a.m. ... read more..
source:http://yhoo.it/ur9Amy
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