Glenmark Pharmaceuticals Ltd
. (Glenmark), a research-led global integrated pharmaceutical company, announced that its Suisse subsidiary, Glenmark Specialty S.A., has entered into an exclusive licensing agreement with Yuhan Corporation for commercializing its novel nasal spray Ryaltris in South Korea.
The agreement with Yuhan is Glenmark’s second regional licensing deal for Ryaltris.
In July 2018, Glenmark entered into an exclusive licensing agreement with Seqirus Pty. Ltd. to commercialize Ryaltris in Australia and New Zealand.
Under the terms of the agreement, Glenmark will be responsible for manufacturing and supply of the product, while Yuhan will be responsible for regulatory filing and commercialization of Ryaltrisin in South Korea.
Glenmark will receive an upfront payment, regulatory and commercial milestone payments as well as royalties from Yuhan.
In May 2018, Glenmark filed a New Drug Application (NDA) for Ryaltris with the USFDA, which is currently under review with the regulator.
Glenmark plans to commercialize Ryaltris in various markets globally. The company will continue to explore commercial partnerships for Ryaltris in markets where it does not have direct presence.
Glenmark Pharmaceuticals Ltd is currently trading at Rs660.85 up by Rs4.35 or 0.66% from its previous closing of Rs656.50 on the BSE.
The scrip opened at Rs657.50 and has touched a high and low of Rs661.60 and Rs652.25 respectively. So far 1,39,316 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs18,526cr.