Under the terms of the agreement, Novartis remains the holder of the registration of these medicines and will be responsible to manufacture them, Glenmark will be responsible for promoting, commercializing and distributing of these products in Brazil.
Drugmaker Glenmark Pharmaceuticals on June 24 said its Brazilian subsidiary, Glenmark Farmacêutica, has entered into an exclusive partnership agreement with Novartis to distribute latter's three respiratory products in Brazil.
This agreement will be effective from July 1 onwards.
The products involved in the agreement are Seebri (Glycopyrronium bromide), Onbrize (Indacaterol) and Ultibro (combination of Indacaterol and Glycopyrronium), which are indicated towards treatment of the symptoms of chronic obstructive pulmonary disease (COPD) in adults.
Under the terms of the agreement, Novartis remains the holder of the registration of these medicines and will be responsible to manufacture them. Glenmark will be responsible for promoting, commercializing and distributing of these products in Brazil.
“This partnership is in line with our vision to expand our respiratory product offerings for patients and prescribers in Brazil and further consolidate our position in this segment,” said Glenn Saldanha, Chairman and Managing Director of Glenmark.
Latin America, that constitutes Brazil contributed about 5 percent of Glenmark's Rs 9865.5. Indian drug makers who are facing intense pricing pressure in their key US market have been focusing on ramping up their sales in other big geographies such as Brazil.
Shares of Glenmark were trading 7.3 percent lower and were trading at Rs 463 on BSE at 1 pm.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.
