Glenmark Pharmaceuticals, USA has entered into a strategic Development, License and Commercialization agreement with Particle Sciences Inc. to develop and market a generic version of Celgene’s ABRAXANE product – paclitaxel protein (albumin)-bound particles for injectable suspension. As per the terms of the agreement, the company has obtained Global Exclusive Marketing and Distribution rights of the product upon commercialization.
Particle Sciences will develop this product exclusively for Glenmark shall receive certain milestone payments during various stages of the product’s development from the company, including royalties on sales. Development of the product has been initiated for the USA market and the company intends to file the ANDA in FY19. The product will be subsequently filed in other key markets across the globe.
Glenmark’s current portfolio consists of 109 products authorized for distribution in the US marketplace and 62 ANDA’s pending approval with the US FDA. In addition to these internal filings, the company continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.
