The drug maker announced that its Swiss subsidiary, Glenmark Specialty S.A., received marketing approval from the Ministry of Health of the Russian Federation for Ryaltris nasal spray.
Ryaltris (olopatadine hydrochloride 665 mcg and mometasone furoate 25 mcg), is indicated for symptomatic treatment of seasonal and perennial allergic rhinitis in adults and children over 12 years of age. Ryaltris relieves symptoms of allergic rhinitis, including stuffy nose, runny nose, nasal itching, sneezing, as well as itchy, red and watery eyes.This approval paves the way for commercialization of Ryaltris in Russia, which is expected to be made available to patients in the country in Q1 FY 2021-22.
In Russia, allergic rhinitis affects 10-20% of the population on average, with certain regions having a higher prevalence rate of 18 - 38%. Allergic rhinitis can impact a person's quality of life and lead to functional impairments, as well as increase the risk of having asthma.
Commenting on the development, Csaba Kantor, senior vice president of Russia & CIS region said, "Glenmark has built strong capabilities in the area of respiratory medicine and is among the leading players in this therapy area across several markets globally. Russia is one of the key markets for us and we are consistently looking to expand our product portfolio. We are delighted to receive an approval for Ryaltris nasal spray in the Russian market. This new innovative addition to our portfolio is yet another major step in strengthening Glenmark's respiratory focus in Russia and the CIS region. Glenmark has a strong established presence in Russia for over 30 years, which will enable us to lead the commercialization of this product in the country. We look forward to being able to make this innovative product available to patients in Russia as soon as possible."
Shares of Glenmark Pharmaceuticals were down 0.29% at Rs 483.80. Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across generics, specialty and over-the-counter (OTC) business with operations in over 50 countries. Glenmark's key therapy focus areas globally are respiratory, dermatology and oncology.
The drug maker's consolidated net profit jumped 30% to Rs 248.18 crore on 4.6% increase in net sales to Rs 2,758.74 crore in Q3 December 2020 over Q3 December 2019.
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