The Glenmark-Sanofi arrangement, follows similar recent deals by other Indian pharma outfits.

FORBES: Sanofi inks licensing pact with India's Glenmark

The two firms will co-market the drug in Brazil, Australia, New Zealand and Russia with Glenmark retaining the rights for the Indian market.

FORBES: Sanofi inks licensing pact with India's Glenmark

In 2000, he handed over charge of Glenmark in which the family owns 48%, to Glenn under whom the company embarked on drug discovery.

FORBES: Sanofi inks licensing pact with India's Glenmark

Glenmark, a smaller firm, has had success by conducting early research, then licensing its technologies to Western firms with the money to conduct clinical trials.

ECONOMIST: The drugs industry

Glenmark was started in 1977 by Gracias Saldanha, a former pharma executive who founded it with his pension money, naming the outfit after his two sons Glenn and Mark .

FORBES: Sanofi inks licensing pact with India's Glenmark

The latest Western company to strike a significant deal in India is Paris-headquartered Sanofi which inked a licensing pact Monday with Glenmark Pharmaceuticals , a rising outfit known for its efforts in drug discovery.

FORBES: Sanofi inks licensing pact with India's Glenmark