Glenmark signs licensing pact with Sanofi-Aventis

Indian drugmaker Glenmark Pharmaceuticals Ltd said on Monday it has signed a licensing agreement with France's Sanofi-Aventis for development and commercialisation of novel agents to treat chronic pain.                                            

Under the terms of the agreement, Glenmark will receive an upfront payment of $20 million, it said in a statement.                                            

The total licensing payments could reach $325 million it said.