Glenmark Pharmaceuticals' US-based subsidiary, Glenmark Generics has entered into an exclusive license and supply agreement for a branded product with Taro Pharmaceuticals, USA, a subsidiary of Taro Pharmaceutical Industries. Under the agreement, Glenmark will manufacture the US FDA approved product exclusively for Taro USA. Taro's branded division TaroPharma, will be the exclusive United States distributor of the product. Glenmark will receive milestone payments and a royalty on sales. Additional terms of the agreement are not being disclosed.
Earlier, Glenmark Pharmaceuticals SA (GPSA), a wholly owned subsidiary of Glenmark Pharmaceuticals, India (GPL), has entered into an agreement with Sanofi-aventis to grant Sanofi-Aventis a license for the development and commercialization of novel agents to treat chronic pain.
Under the terms of the agreement, Glenmark will receive an upfront payment of US$ 20 million, as well as development, regulatory and commercial milestone payments. All such payments could reach a total of US$ 325 million. In addition, Glenmark is eligible to receive tiered double-digit royalties on sales of products commercialized under the license.
Glenmark Generics has also recently entered into exclusive licensing agreement with Par Pharmaceutical Companies, Inc to market ezetimibe 10 mg tablets, the generic version of Merck & Co Inc's Zetia, in the US. Under the terms of the licensing and supply agreement, Par has made a payment to Glenmark for exclusive rights to market, sell and distribute ezetimibe in the US. The companies will share in profits from the sales of the product.