ICDR rules in favour of Glenmark Pharma’s arbitration claim against Napo Pharmaceuticals

Glenmark Pharmaceuticals Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 532296 | NSE: GLENMARK

23 Aug 2012 Evaluate

The International Centre for Dispute Resolution (ICDR) has ruled in the favour of Glenmark Pharmaceuticals on the arbitration claim filed against the Napo Pharmaceuticals on August 8, 2012. ICDR has ruled that Glenmark’s exclusive rights to develop, commercialize and distribute Crofelmer through relief agencies into the 140 countries that comprise of the Glenmark’s territory. ICDR also has allotted Glenmark a span of two years to file for regulatory approval in the 140 countries in its territory, from the time Crofelmer is approved in India (on an indication basis by indication basis).

The International Centre for Dispute Resolution also found Napo Pharmaceuticals of breaching the collaboration agreement by disclosing information concerning the manufacture of Crofelmer to Aptuit Laurus and enjoining Napo from disclosing such confidential information to third parties and from purchasing or obtaining Crofelmer from Aptuit Laurus .

Glenmark filed arbitration claim against Napo, seeking among other things, a ruling that Glenmark’s exclusive rights to develop, commercialize and distribute Crofelmer in 140 countries for treatment of diarrheal disease includes the exclusive rights to distribute through relief agencies in these countries and an injection prohibiting Napo from sharing confidential information concerning the manufacture of Crofelmer.

Glenmark Pharmaceuticals has an exclusive license from Napo Pharmaceuticals, to distribute and commercialize Crofelmer in 140 emerging countries including India for indication related to HIV, used in acute and pediatric diarrhea. Crofelmer is a novel, first in class anti-diarrheal agent that has a physiological and different mechanism of action from traditional anti-diarrheal agencies.

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