Glenmark Specialty S.A. in Switzerland and an affiliate of Bausch Health Companies Inc. have entered into an exclusive licensing agreement for the commercialization of Glenmark's innovative nasal spray Ryaltris, under review by Health Canada.
Under the terms of the agreement, Glenmark will be responsible for regulatory approvals and supply of Ryaltris for the Canadian market. Bausch Health, Canada will be responsible for the commercialization of Ryaltris in the Canadian market, following regulatory approval.Glenmark will receive an upfront payment, launch & sales-based milestone payments in addition to royalties and supply price from sales of Ryaltris.
Ryaltris (olopatadine hydrochloride 665 mcg and mometasone furoate 25 mcg), is currently under review by Health Canada with a proposed indication for the treatment of seasonal allergic rhinitis in adults and children over 12 years of age.
Glenmark Pharma'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.
Shares of Glenmark Pharmaceuticals lost 0.19% to Rs 457.85 on BSE. 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.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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