US-based Glenmark Pharmaceuticals Inc (GPI), a wholly owned subsidiary of Glenmark Pharmaceuticals Ltd. has entered into a marketing arrangement with the Philadelphia-based Lannett Company Inc to market the ANDAs (Abbreviated New Drug Application) that Glenmark Inc would file over the next two years. GPI is expected to file five ANDAs over the next two years, of which, at least one will be filed by the end of the current fiscal.
The marketing of the products will be undertaken by Lannett using joint labels, the ANDAs will be owned by Glenmark Pharmaceuticals.
With a market capitalisation of over $ 400 million, Lannett Company Inc is listed on the American Stock Exchange. Lannett is a well respected leader in the manufacture of generic pharmaceuticals as well as being a one-stop, blend to bottle, DEA Class 1-5 approved manufacturer. An emerging generic company, Lannett has, besides strong marketing presence in the US, state-of-the-art FDA certified manufacturing unit, R&D facility.
Speaking on the occasion, Glenn Saldanha, Managing Director and CEO, Glenmark Pharmaceuticals, India said, “Partnering with Lannett is part of our strategic initiative to augment presence in the American market. Lannett’s operations will perfectly complement our US subsidiary’s business of facilitating filing of ANDAs and marketing finished formulations in the US. ”
Glenmark Pharmaceutical Limited, a research based pharmaceutical company specializes in segments such as Dermatology, Internal Medicine, Pediatrics, Gynaecology, ENT and Diabetes. Glenmark Pharmaceuticals is the market leader in therapeutic groups like dermatology and respiratory with brands like Candid B and Ascoril respectively.