NEW DELHI: Glenmark Pharmaceuticals on Wednesday said its subsidiary has inked a licensing pact with Menarini Group for commercialising its nasal spray Ryaltris across 33 countries in Europe, including the Balkan region.
Glenmark Specialty, a Switzerland-based unit of the company, has entered into an exclusive licensing agreement with the Menarini Group for Ryaltris, the Mumbai-based drug firm said in a statement.
The company’s product is a novel fixed-dose combination nasal spray of an antihistamine and a steroid, indicated for the 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 for the continued development and regulatory approval of Ryaltris in European markets while Menarini will be responsible for the scientific information and the commercialisation of the product in those markets, following regulatory approval.
As part of the deal, Glenmark will receive an upfront payment as well as launch and sales based milestone payments from Menarini for Ryaltris sales.
“This partnership is another step in establishing Glenmark’s respiratory focus in Europe. While Glenmark will launch Ryaltris through its own front ends in some markets, this arrangement will allow the product to compete across Europe,” Glenmark Pharmaceuticals Executive Vice President, Business Head EMEA-L (Europe, Middle East, Africa, Latin America) Achin Gupta said.
This is also aligned with the company’s vision to make Ryaltris the first global brand by launching it in several markets across the world, he added.
“Ryaltris is a perfect addition to our European respiratory and allergy portfolio and we can count on our established experience in the relevant therapeutic area to bring this novel option to patients. We look forward to receiving Ryaltris registration and being able to launch operations as soon as practicable,” Menarini Group General Manager Pio Mei said.