An agreement for undertaking drug discovery research and generating Intellectual Property (IP) came into force in the last week of May between GVK Bio, a Hyderabad-based company and Wyeth Pharmaceuticals. Under the pact, applications for INDs (Investigative New Drug) would be filed with the US Food & Drug Administration by GVK Bio which will be responsible for identifying drug candidates and the clinical studies would be performed by Wyeth. The agreement stipulates on payment to GVK Bio at the initial stage as well as success-based milestone payments (based on the research progressed).
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