Glenmark Pharma eyes $80 million from Ryaltris sales next year

Glenmark Pharma eyes $80 million from Ryaltris sales next year

Glenmark Pharmaceuticals expects its nasal spray Ryaltris to hit about USD 80 million in sales next year, boosting its overall revenue, according to a top company executive. The drug firm has so far commercialised the product in 31 geographies across the globe.

Ryaltris is indicated for symptomatic treatment of seasonal and perennial allergic rhinitis in adults and children over 12 years of age. The drug relieves symptoms of allergic rhinitis, including stuffy nose, runny nose, nasal itching, sneezing, as well as itchy, red and watery eyes.

"Ryaltris is a huge product for us, right? I mean next year, we anticipate sales of close to about USD 80-odd million. So it's a very large product already in a short time," Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said. The company is yet to launch the product in many of the major markets like China and Brazil, he added.

Further, Saldana said, "So I think from peak sales, this will be a substantial product for us, right, over the next five years. And in terms of market share, if we end up with like 15-20 per cent right off the market, I think we would have done really well with this product." As of the end of third quarter, the Mumbai-based drug firm has signed marketing applications for Ryaltris in more than 70 markets.

Product has been commercialised in 31 markets so far. The product has also been approved in 18 other markets, where it will be launched over the course of the next 3 to 6 months by either Glenmark or its partners, Glenmark Investor Relations General Manager Utkarsh Gandhi said.

For the third quarter ended December 31, 2023, Glenmark reported a consolidated revenue from operations at Rs 2,910 crore as against Rs 3,464 crore in the corresponding quarter last year. Shares of the drug firm on Thursday ended 1.67 per cent up at Rs 915.30 apiece on the BSE.