Glenmark Pharmaceuticals Ltd is in talks with companies in Japan and Europe for clinical trials and commercialisation of its anti-asthma PDE inhibitor molecule GRC 3886 for global markets excluding the territory of North America.
It is the same molecule, which the company had licensed to US-based Forest Labs last year. Forest is entrusted with the development and commercialisation of the molecule in North America.
According to senior company officials, the molecule has entered phase II stage of clinical trials in March 2005.
"We have initiated talks with few Japanese and European companies for the commercialisation of the product across markets like Europe, and Japan. The partner is also expected to conduct clinical trials of the molecule in Japan. In the near future, Glenmark will sign contract with one of the companies," said Glen Saldanha, MD & CEO, Glenmark Pharmaceuticals Ltd. The buzz is that Glenmark will sign a major Japanese company for the contract.
Japan and Europe cover about 35 per cent of asthma and COPD (Chronic Obstructive Pulmonary Disorder) market in the world. North America controls 50 per cent of the market.
Glenmark recently received $10 million upfront payment from Forest Labs. It is expected to receive another $180 million upon the successful commercialisation of the GRC 3886 by Forest.
Glenmark Pharma's diabetes molecule, another promising product, is expected to enter phase I clinical trials by June 2005. The trials are expected to be initiated in UK.