Glenmark Pharmaceuticals Ltd in-licensed its first product for the Indian market as part of its effort to enter the fast-growing and high-potential ‘Scar Management’ segment. Glenmark entered into a strategic in-licensing agreement with the Swiss firm, Stratpharma AG to market and distribute the product ‘Strataderm’ in India. The entry into the scar management therapy area will strengthen Glenmark’s leadership position in the dermatology segment.
Commenting on this development, AS Mohanty, director – Formulations mentions, “The scar management segment has, so far, not been a focus area for pharmaceutical companies and we are glad to make an entry into this segment with a product that could be used on scars caused due to a variety of reasons.” He further added “This is our first in-licensed product for the Indian market and we will continue to pursue in-licensing opportunities to bridge product gaps in operating therapy areas as well as in-license differentiated products to strengthen our product portfolio. We will continue to look for more in-licensing opportunities in the dermatology segment to strengthen our leadership position in this area.”
Strataderm was developed for use on all types of scars including those resulting from general surgery, trauma, chronic wounds, burns, bites, acne and other diseases of the skin. It can be used on old or new scars, once the wound is healed (i.e. after stitches are removed and the wound is considered closed, Epithelialized). Strataderm is ideal for people with sensitive skin and for children.
The product has been developed using a new silicone polymer technology that is self drying without the use of Silicone Dioxide. This new self-drying technology gives the product an edge over other competing products. The product will be available in a gel formulation in a 10g tube. We estimate the size of the scar and marks removal cream in India to be around Rs 80 crore and growing at an exponential rate. This is a prescribed product and will be available at all leading chemists across the country.