| COOPERATION |
GSK and Ranbaxy to collaborate on drug discovery and development London and New Delhi, October 22, 2003 - Ranbaxy Laboratories Ltd. (Ranbaxy) and GlaxoSmithKline plc (GSK) today announced that they have entered into a drug discovery and clinical development collaboration covering a wide range of therapeutic areas. Several collaborative scenarios are envisioned, with GSK and Ranbaxy leveraging their respective resources and expertise. Ranbaxy will be responsible for activities from optimization of a lead compound to generation of a development candidate. Leads may be provided by either GSK or Ranbaxy. For a proportion of the candidates selected within the collaboration, it is expected that Ranbaxy will conduct early clinical work. GSK and Ranbaxy will form an Executive Steering Committee to oversee the research. Once a compound has been selected as a development candidate, in most instances GSK will complete development. GSK will have the exclusive commercialisation responsibilities worldwide, while Ranbaxy will take the lead in India. Ranbaxy, with the consent of GSK, may co-promote in US and EU. The financial terms of the agreement were not disclosed. "This collaboration provides an avenue to Ranbaxy to leverage its discovery and early product development strengths and gain access to cutting edge technologies," said Dr. Rashmi Barbhaiya, President, Research & Development, Ranbaxy. "This agreement furthers our strategy of building strong collaborations in drug discovery at the same time we accelerate our own internal drug discovery programmes," said Dr. Tadataka Yamada, Chairman, Research & Development, GlaxoSmithKline. GlaxoSmithKline - one of the world's leading research-based pharmaceutical and healthcare companies-is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For company information, visit GlaxoSmithKline on the World Wide Web at www.gsk.com. Ranbaxy Laboratories Limited - India's largest pharmaceutical company, manufactures and markets branded generic pharmaceuticals and Active Pharmaceutical Ingredients. Ranbaxy's continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. Ranbaxy's foray into Novel Drug Delivery Systems has led to proprietary "platform technologies" resulting in a number of products under development. The Company is selling its products in over 70 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 25 countries and manufacturing operations in 7 countries. For company information, visit Ranbaxy on the World Wide Web at www.ranbaxy.com |
| UPDATE | 10.03 |
| COMPANY |
- GSK - Ranbaxy Labs. |
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