Glenmark Pharmaceuticals enters into an Exclusive License Agreement with Grandpharma (China) Co. Ltd. for commercializing Investigational Seasonal Allergic Rhinitis Nasal Spray Ryaltris in China
Deepthi | Myequity news | Date : 06-02-2019 14:30:00 IST
Glenmark Pharmaceuticals Ltd’s Swiss subsidiary, Glenmark Specialty S.A., has entered into an exclusive licensing agreement with Grandpharma (China) Co. Ltd. (Grandpharma) for commercializing its novel nasal spray Ryaltris in China.
The agreement with Grandpharma is Glenmark’s third regional licensing deal for Ryaltris. Glenmark has already signed licensing deals for commercializing Ryaltris in Australia, New Zealand and South Korea. “We are happy to partner with Grandpharma in China as its product portfolio complements well with Ryaltris and this partnership gives us an opportunity to tap into one of the largest pharmaceutical markets in the world. This step is aligned with our vision to make Ryaltris the first global brand of Glenmark through launches in multiple markets across the globe,”
Ryaltris [olopatadine hydrochloride (665 mcg) and mometasone furoate (25 mcg)], developed by Glenmark, is a novel, investigational, fixed‐dose combination nasal spray of an anti‐histamine and a steroid, indicated for treatment of symptoms associated with seasonal allergic rhinitis (SAR) in patients over 12 years of age.
Under the terms of the agreement, Glenmark will be responsible to manufacture and supply Ryaltris, while Grandpharma will be responsible for regulatory filing and commercialization of Ryaltris in China. Glenmark will receive an upfront payment, regulatory filing, regulatory approval and commercial milestone payments as well as royalties from Grandpharma for Ryaltris.
said Glenn Saldanha, Chairman and Managing Director of Glenmark Pharmaceuticals.
About Glenmark Pharmaceuticals:
Glenmark Pharmaceuticals Ltd. (GPL) is a research‐driven, global, integrated pharmaceutical organization. Glenmark is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity). Glenmark has several molecules in various stages of clinical development and is focused in the areas of oncology, dermatology and respiratory.