Biocon unit to develop drugs with US firm

Biocon said today its unit, Syngene International, has entered into an agreement with Endo Pharmaceuticals USA to develop new cancer drugs.

Biocon said on Monday its unit, Syngene International, has entered into an agreement with Endo Pharmaceuticals USA to develop new cancer drugs.

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Under the agreement, Endo will have all the rights to the drugs developed, while Syngene will receive research fees, milestone payments and success fees from Endo, it said in a statement.