Glenmark Pharmaceuticals’ Swiss subsidiary, Glenmark Specialty S.A., has entered into an exclusive licensing agreement with Hikma Pharmaceuticals PLC (Hikma) for commercializing its novel nasal spray Ryaltris in the US. The agreement with Hikma is Glenmark’s fourth regional licensing deal for Ryaltris. Glenmark has already signed licensing deals for commercializing Ryaltris in China, Australia, New Zealand and South Korea.
Under the terms of the agreement, Glenmark will be responsible for the continued development and regulatory approval of Ryaltris by the US Food and Drug Administration (USFDA). Hikma will be responsible for the commercialization of Ryaltris in the US following approval. Hikma would also have the ability to produce the product utilizing its nasal manufacturing capabilities in Columbus, Ohio. Glenmark will receive an upfront payment, regulatory approval and commercial milestone payments as well as royalties from Hikma for Ryaltris.
Glenmark Pharmaceuticals is a global pharmaceutical company. The company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its segments are India, United States, Latin America, Europe and Rest of the World (ROW).
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