Glenmark Pharmaceuticals entered into licensing agreement with Forest Laboratories to grant the North-American rights to Glenmark’s oral PDE4 inhibitor, GRC 3386 that is phase I clinical trials for treating chronic obstructive pulmonary disorder (COPD) and asthma. The deal could be worth up to US$190 M to Glenmark over 5 years if specific milestones and sales targets are met.