Glenmark to outlicense one molecule in FY10

Glenmark Pharmaceuticals is looking to out-license at least one molecule in fiscal 2010, probably Melogliptin. It is renegotiating a deal for the diabetes drug and is seeking a tie-up for anti-asthma drug Oglemilast for the European market. It is also looking to outlicense phase 2-b trials Oglemilast.

Outlicensing of Melogliptin and launch of Crofelmer (for HIV-related diarrhoea), which is a phase 3 candidate, are focus areas for Glenmark. A successful launch of Crofelmer can add $20-25 million annually to the company's net profit.

Meanwhile, Glenmark expects to launch Crofelmer across the world by the end of the next fiscal. The company is expecting sales of $80 million in the next 2-3 years as it will price the product at a premium to the currently available treatment options.