Glenmark Pharmaceutical (UK) Ltd, a wholly owned subsidiary of Glenmark Pharmaceuticals Ltd. (Glenmark) and Generics (UK) Limited, on behalf of the Merck Generics Group (Merck Generics), a subsidiary of Merck KGaA of Darmstadt, Germany, have entered into an agreement for the joint development, filing and marketing of 8 generic dermatological products for Europe, which have a current annual sales value of around USD 225 million in the region.
As per the agreement, Glenmark will develop, manufacture and supply the products while both the companies would be responsible for their own sales and marketing. The first of these products has already been filed and is targeted to be launched in 2007; the remaining products are forecasted to be launched by 2010, said a company release.
Glenn Saldanha, MD and CEO of Glenmark Pharmaceuticals stated, "We are happy to partner with Merck Generics, which besides being a well respected global generic pharmaceutical player, also has a strong sales presence in Europe. Moreover, our association is a testament to Glenmark's combined strengths in dermatology and R&D."
Guy Clark, President - Glenmark European Region added "We are excited about our agreement with Merck Generics, which marks Glenmark's first significant deal in the European region." Glenmark commenced its European commercial operations by establishing its wholly-owned subsidiary, Glenmark Pharmaceuticals (UK) Ltd in 2004. Its focus is to develop and market niche and branded generic products in the European region. The company is also evaluating inorganic growth opportunities including the acquisition of sales and distribution front ends in select high-potential European markets.
Glenmark Pharmaceuticals Ltd., headquartered in Mumbai, has generic formulation and API business interests in over 80 countries across the world including the highly regulated markets of USA and Europe. The formulation business spans several product segments such as Dermatology, Internal Medicine, Paediatrics, Gynaecology, ENT and Diabetes. The Company in also engaged in cutting-edge research in discovering new molecules and runs discovery projects in the areas of inflammation (Asthma/COPD, etc) and metabolic disorders (Diabetes, Obesity, etc). Its first Asthma/COPD molecule, Oglemilast (GRC 3886), was licensed out to Forest Laboratories and Teijin Pharma Limited for the North American and Japanese markets, respectively. This compound subsequently completed Phase I clinical trials successfully and has recently entered Phase II clinical trials in the US.
The company's second lead GRC 8200, a DPP-IV inhibitor for Type II Diabetes, is in Phase II clinical trials in South Africa. Glenmark's third lead is a compound named GRC 10389, a CB-I receptor antagonist for the treatment of Obesity. This compound is completing pre-clinical studies and is expected to be filed for a phase I trial in H1 FY07. The company has three other programmes across inflammation and pain management at the pre-clinical stages.