Ranbaxy gets $4 million from Schwarz

Ranbaxy Laboratories Ltd on Wednesday said that it has received $4 million from German pharma company Schwarz Pharma AG for further progress on the development of RBx 2258 molecule.

Ranbaxy is developing the molecule RBx 2258 for treatment of Benign Prostate Hyperplasia (BPH).

As per the licensing deal signed between Ranbaxy and Schwarz on Ranbaxy's New Chemical Entity RBx 2258, Schwarz obtained exclusive rights to develop, market and distribute the product in the United States, Japan and Europe, while Ranbaxy retained rights for all other markets.

Ranbaxy had already received $6 million from Schwarz. Phase-1 clinical trials of RBx 2258 have been completed in Europe and Schwarz is in the process of moving towards Phase-II trials in Europe and South Africa. In India, it is progressing at Phase II levels.