Mumbai, July 28
THE Mumbai-based drug company Glenmark Pharmaceuticals Ltd has started exporting to the US, the chemical equivalent of fosinopril sodium oral tablets used to lower blood pressure and treat congestive heart failure.
Glenmark Pharmaceuticals Inc, a wholly owned subsidiary of the company, has commenced shipment of its generic fosinopril sodium oral tablets or Monopril®shy, the company told the Bombay Stock Exchange here on Thursday.
Glenmark is marketing the product through an exclusive license agreement with InvaGen Inc, a New York-based firm. InvaGen filed the Abbreviated New Drug Application (ANDA) and obtained approval from the US Food and Drug Administration for the fosinopril sodium product in April 2005.
Fosinopril, an anti-hypertensive agent of the ACE Inhibitor class has a US generic market of $92 million, a company communiqué said.
As per the agreement, InvaGen is responsible for the manufacture and supply of the product while Glenmark has exclusive sales and marketing rights.
Apart from an initial upfront payment, Glenmark will also share a part of its profits on sale of the product with Invagen, the company said.
This association also has potential for launching more products in future. Glenmark is currently marketing two generic products, naproxen and nitroglycerin and has already locked in contracts aggregating to a market share in excess of 15 per cent for these products, the company said.
These products are being marketed under partnership agreements with two US manufacturers, Interpharm and Konec respectively.
Glenmark expects to have commercially launched more than five generic products in the US market before March 2006, the company said.