News Details
Category : World
Headline : Glenmark Therapeutics inks pact with Otonomy Inc. USA to promote allergy treatment drug
Date: 03/05/2019 16:01
Drug firm Glenmark Therapeutics Inc., USA on Friday said that, “it has signed a co-promotion agreement with Otonomy Inc.,” in a filing to Bombay Stock Exchange.

The company is dedicated to developing and commercializing a franchise of branded products for Glenmark Pharmaceuticals and is focused in the areas of respiratory and dermatology.

As per the company, Ryaltris, formerly GSP 301 Nasal Spray, is the company’s leading respiratory pipeline asset and currently under review with the USFDA, as a treatment of seasonal allergic rhinitis in patients 12 years and older.

After signing this agreement Glenmark Therapeutics can promote OTIPRIO for the treatment of acute otitis externa (AOE) in patients 6 months of age and older due to Pseudomonas aeruginosa and Staphylococcus aureus in ear, nose and throat specialist offices in the United States and its territories.

Robert Matsuk, President of Glenmark Therapeutics said, “we are pleased to collaborate with Otonomy on this agreement which represents an excellent opportunity to fit within our respiratory franchise and supports our strategy of maintaining commercial emphasis on specialists.” Robert further said, “with FDA review of our first New Drug Application for Ryaltris well underway, we remain focused on developing new partnerships that bolster our specialty portfolio and commercial footprint in the USA.”

“This agreement is a clear example of Glenmark Therapeutics’ efforts to maximize and grow our presence by pursuing opportunities both through external partnerships and our internal R and D pipeline,” he added.

The shares of Glenmark Pharma were trading at Rs. 631.95 apiece, high at 5.45 points or 0.87 per cent at 15:55 hours on the BSE.