Glenmark's Subsidiary Secures Deal for Acne Cream Distribution in Europe and South Africa

27 Sep 2023 , 03:14 PM

Glenmark Pharmaceuticals sees a nearly 2 % increase in morning trade on September 27 after its subsidiary, Glenmark Specialty SA, signed a distribution and license agreement with Cosmo Pharmaceuticals NV for an acne cream in Europe and South Africa. Glenmark gains exclusive rights to commercialize Winlevi (clascoterone cream 1%) in 15 EU countries and South Africa and the UK.

Cosmo will act as the exclusive product supplier, and Cassiopea, a subsidiary of Cosmo, will handle centralizesaw marketing authorisation at the European Medicines Agency (EMA). Winlevi, approved by the US FDA for treating acne in patients aged 12 years and older, has become the most prescribed branded topical acne drug in the US.

Glenmark will pay an upfront amount of $5 million to Cassiopea and additional double-digit regulatory and sales milestones, along with agreed double-digit royalties on net sales. Winlevi’s non-antibiotic approach positions it well to address the EU acne market, projected to grow from $928.7 million in 2021 to $1,297.0 million in 2028, especially considering European guidelines discouraging topical antibiotic use for acne due to the risk of antibiotic resistance.

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