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Last Updated : Jul 11, 2019 10:42 AM IST | Source: Moneycontrol.com

Glenmark gains 3% on licensing agreement with Torrent Pharma for anti-diabetes drug

Glenmark will manufacture and supply Remogliflozin while Torrent will market the drug under its own trademark 'Zucator' in India.

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Glenmark Pharmaceuticals shares rallied 3 percent intraday on July 11 after the company signed licensing agreement with Torrent Pharmaceuticals for co-marketing of anti-diabetes drug. Torrent Pharma shares also gained 1.8 percent intraday.

"Company entered into a non-exclusive sub-licensing agreement to co-market sodium glucose co-transporter-2 (SGLT2) inhibitor, Remogliflozin Etabonate in India. Under the terms of the agreement, Glenmark will receive an upfront payment, license fees and royalties for the non-exclusive sub-license rights from Torrent," the drug maker said in its BSE filing.

Glenmark will manufacture and supply Remogliflozin while Torrent will market the drug under its own trademark 'Zucator' in India, it added.

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Company in April 2019 received approval from the Drugs Controller General of India (DCGI) for Remogliflozin Etabonate after successfully completing Phase-3 clinical trials in which Remogliflozin demonstrated good efficacy and safety profile in a head-to-head comparison against Dapagliflozin.

Subsequently, Glenmark launched Remogliflozin indicated in the treatment of Type 2 Diabetes Mellitus in adults under the brand names Remo and Remozen while Torrent will commercialise Remogliflozin under the brand name Zucator, company said.

Glenmark Pharma was quoting at Rs 456.15, up Rs 10.65, or 2.39 percent and Torrent Pharmaceuticals was up 1.22 percent at Rs 1,568.70 on the BSE at 10:12 hours IST.
First Published on Jul 11, 2019 10:42 am
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