New Delhi: To develop, manufacture and market a portfolio of ophthalmic products in the US and Canada, drug major Glenmark Pharmaceuticals has entered into an exclusive agreement with South Korea’s Sam Chun Dang Pharm. Co. Ltd. (SCD).
“Under this agreement, these products will be developed and manufactured by SCD in South Korea. Glenmark will seek all market authorisations and commercialise the products in North America,” the company said in a BSE filing.
Glenmark Pharmaceuticals President, North America & Global API, Robert Matsuk said, the agreement for these ophthalmic products is aligned with the company’s strategy to strengthen its focus on complex generic formulations. Our strategic partnership with SCD supports our objective to expand the product offerings of our complex generic portfolio, he added.
According to the pact, Glenmark and SCD will develop and commercialise six ophthalmic products in the US and Canada.
“It is expected that Glenmark will file six abbreviated new drug applications (ANDAs) beginning in the first half of 2019 for the licensed SCD ophthalmic products,” it added.
Citing IMS sales figures, Glenmark said the U.S. brand sales for the six products were approximately USD 1.7 billion for the calendar year 2017.
Shares of Glenmark Pharma were trading 0.11 per cent higher at Rs 525.30 on BSE.