Glenmark Pharmaceuticals Inc. USA (GPI), the wholly owned subsidiary of the Glenmark Pharmaceuticals Ltd, signed a supply and marketing agreement with Lehigh Valley Technologies, Inc. (LVT) for the manufacturing and marketing of two liquid generic pharmaceutical products (12 SKUs) for the US market. These products, which target the pain management therapeutic segment and are controlled substances have a cumulative market size of about USD 46 million (IMS).
In accordance with the agreement, LVT will manufacture and supply the products to GPI, which will market them under the Glenmark label. Glenmark expects to launch these products over a three-month period starting August 2006. The company will pay out an initial milestone to LVT in order to get exclusive marketing rights. The products will be sold across retail as well as hospital segments. The profits on net sales in the US market will be shared equally between the two parties, stated a release.
Glenn Saldanha, Managing Director and CEO of the company stated, " Our deal with LVT will significantly add to the six products that we currently have in market and will go a long way in strengthening our generics presence in the US. We also expecting approvals for an additional 2-4 hours ANDAs filed by Glenmark shortly and expect to close FY 2007 with at least 16-18 generics in the US market."
The company has filed a total of 17 ANDAs till date from its US FDA approved facility at Goa and also purchased 2 ANDAs from Clonmet Healthcare Ltd., in FY 2005.
The last in-licensing agreement was late in the third quarter of FY 2006 for Esterfied Estrogen and Methyl testosterone. This was preceded by an agreement with InvaGen Pharmaceuticals Inc. for the joint developments and marketing of seven generics products. Another collaboration agreement is with Shashun Chemicals and Drugs Ltd, for the joint development and marketing of 13 generics products in the US market.
The Company has launched its sales and marketing from to-end by in-licensing two generic products, Naproxen and Nitroglycerin, from the two US based manufacturers Interpharm, Inc. and Konec, Inc, respectively. The Company followed it up with an exclusive licensing agreement with InvaGen for marketing its anti-hypertensive agent, Fosinopril Sodium. The Company also received US FDA approvals for two generics ANDAs, Fluconazole and Zonisamide and has commenced marketing the products.