The Hindu Business Line : Glenmark acquires rights for two products in US

Glenmark Pharmaceuticals Ltd has inked a supply and marketing agreement with Lehigh Valley Technologies Inc (LVT) to make and market two liquid generic pharmaceutical products in the US.

Executed through Glenmark's wholly-owned subsidiary, Glenmark Pharmaceuticals Inc (GPI-USA), the deal covers products in the pain segment with a cumulative market size of about $46 million, Glenmark told the Bombay Stock Exchange.

LVT will manufacture and supply the products to GPI, which will market them under the Glenmark label. Glenmark expects to launch these products over a three-month period starting August. It would pay an initial milestone to LVT in order to get exclusive marketing rights, the company said.

The products would be sold across retail and hospital segments and the profits on net sales in the US market will be shared equally between the two parties, the company added.

Strengthen presence

Mr Glenn Saldanha, Managing Director and Chief Executive Officer of Glenmark, said the deal with LVT would strengthen Glenmark's generics presence in the market by adding to the six products that they currently have in the market.

Glenmark was further expecting approvals for additional two-to-four ANDAs (Abbreviated New Drug Applications) filed by it and expects to close the financial year 2007 with at least 16-18 generics in the US market, he said.

Glenmark has filed a total of 17 ANDAs till date from its US FDA approved facility at Goa. The company's strategy combines acquisitions and in-licensing of products to build its portfolio in the US.

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