Glenmark Specialty enters into licensing agreement with Lotus International

20 Jan 2022 , 11:16 AM

Glenmark Pharmaceuticals Ltd. (Glenmark), a global, integrated pharma company, announced that it has entered into an exclusive licensing agreement with Lotus International Pte. Ltd. through its Swiss Arm, Glenmark Specialty S.A., for commercializing its innovative nasal spray Ryaltris in Singapore, Hong Kong, and Vietnam.

As per the agreement, Glenmark will be responsible for manufacturing and supplying Ryaltris while Lotus will commercialize the drug in the targeted markets. In lieu of this, Glenmark will receive an upfront payment as well as regulatory and sales-based payments from Lotus.

Glenmark Pharma is thrilled to partner with Lotus for Ryaltris as it is one of the major players in the pharma sector in the region and is strategically aligned with the company’s objective to provide quality novel products to cater to the needs of patients with allergic rhinitis. The patients will have access to a highly effective and proven treatment for allergic rhinitis in these key South-East Asian markets, stated the Chief Commercial Officer Robert Crockart, Glenmark Pharmaceuticals Ltd.

Commenting on the partnership, Petar Vazharov, Chief Executive Officer of Lotus said, “Since the company is strongly committed to making difference for all patients, it is honored to be associated with Glenmark to ensure that the drug becomes easily accessible to patients in South Asia. This shall be the first Brand product portfolio to be included in the company’s respiratory portfolio with strong clinical data and IP protection. This partnership will accelerate our expansion in key SEA countries, alongside strengthening the overall competitiveness of our product portfolio.”

Lotus International Pte. Ltd., is a wholly-owned subsidiary of Lotus Pharmaceutical Co. Ltd. which is the largest pharmaceutical company in Taiwan with high-value generic products covering CVS, CNS, anti-obesity drugs, and women health in tablets and hard/soft gel capsules with a special focus on oral oncology for global markets. Lotus targets to benefit its employees, stakeholders, and employees by providing best-in-class R&D and manufacturing. Lotus can approach nearly every global market with its vast network in markets including Thailand, Taiwan, Korea, Vietnam, Singapore, Hong Kong, Philippines, Malaysia, and China.

Glenmark is currently trading at Rs493 down by Rs5.5 or 1.1% from its previous closing of Rs498.50 on the BSE. The scrip opened at Rs498.55 and has touched a intraday high and low of Rs498.95 and Rs491.95 respectively.