Glenmark Pharmaceuticals Ltd on Thursday said its Swiss arm has entered into an exclusive licensing agreement with Lotus International Pte Ltd for commercializing its innovative nasal spray Ryaltris in Singapore, Hong Kong and Vietnam.
Under the agreement signed between Glenmark Specialty SA and the wholly-owned subsidiary of Lotus Pharmaceutical Co, Ltd (Lotus), Glenmark will be responsible for manufacturing and supply of Ryaltris.
On the other hand Lotus will be responsible for its commercialization subject to receipt of regulatory approvals, in these markets, the company said in a statement. Glenmark will receive an upfront payment as well as regulatory and sales-based milestone payments from Lotus, it added.
"This partnership will provide patients access to a highly effective and proven treatment for allergic rhinitis in these key South-East Asian markets," Glenmark Pharmaceuticals Ltd Chief Commercial Officer Robert Crockart said.
Lotus CEO, Petar Vazharov said, "the partnership not only strengthens the competitiveness of our overall product portfolio but also accelerates our expansion in key SEA countries."
He further said this is also the first brand product to be included in Lotus' respiratory portfolio with strong clinical data and IP protection. Ryaltris, developed by Glenmark, is a novel, fixed-dose combination nasal spray of an anti-histamine and a steroid, indicated for treatment of symptoms associated with allergic rhinitis in adults and pediatric patients, 12 years of age and older.Glenmark said it has also entered into commercial agreements with several partners around the world, including Menarini for the commercialization of Ryaltris in select EU markets, with Bausch Health in Canada (where it is under review by Health Canada), with Grand Pharma in China and with Yuhan Corporation in South Korea for commercialization of the nasal spray.