In the largest out-licensing deal to date by an emerging market company, Glenmark Pharmaceuticals has entered into an agreement with Sanofi-aventis, potentially worth US$613 M, for the development and commercialisation of its first-in-class anti-inflammatory monoclonal antibody drug candidate, GBR 500. Sanofi-aventis will gain exclusive rights to the drug in North America, Europe, Japan, Mexico, Argentina, Chile and Uruguay and the companies will co-market in Russia, Brazil, Australia and New Zealand.