Mumbai, Dec. 15
GLENMARK Pharmaceuticals Ltd and the US-based InvaGen Pharmaceuticals Inc have entered into a pact for the American market. The two companies will jointly develop, file and market seven generic pharmaceutical products specifically for this market.
The product list includes a mixture of off-patent and patent-protected molecules with cumulative annual sales in the US of about $ 4.1 billion, a Glenmark communiqué said.
As per the agreement, InvaGen will develop and licence to Glenmark seven generic products. It will also undertake filing the ANDAs (Abbreviated New Drug Applications) while Glenmark will be responsible for obtaining regulatory approval in the US market, the note added.
On receiving regulatory approval, Glenmark's US subsidiary - Glenmark Pharmaceuticals Inc - will exclusively market the products while InvaGen will manufacture them. All development and regulatory costs and profits on sale in the US will be shared equally between the two companies, the note said. One ANDA has already been filed till date and three more are expected by March.
Glenmark has also signed a collaboration agreement with another Indian company, Shasun Chemicals and Drugs Ltd, for the joint development and marketing of 13 generic products in the US market. Shasun is expected to file two of its ANDAs under this agreement by March.
Meanwhile Glenmark also said that it has achieved half its target of filing a total of 12-14 ANDAs during FY 2006 on the back of in-house efforts. It is on course to meet its target by March, the company said.