Moneycontrol
Last Updated : Jan 10, 2019 10:59 AM IST | Source: Moneycontrol.com

Glenmark Pharma gains 1% on entering in agreement with Yuhan Corporation

Glenmark will receive an upfront payment, regulatory and commercial milestone payments as well as royalties from Yuhan.

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Shares of Glenmark Pharma added 1 percent intraday Thursday after company entered into agreement with Yuhan Corporation.

Company's Suisse subsidiary, Glenmark Specialty S.A., has entered into an exclusive licensing agreement with Yuhan Corporation for commercializing its novel nasal spray Ryaltris in South Korea.

The agreement with Yuhan is company's second regional licensing deal for Ryaltris. In July 2018, Glenmark entered into an exclusive licensing agreement with Seqirus Pty. to commercialize Ryaltris in Australia and New Zealand.

Ryaltris is a novel, investigational, fixed‐dose combination nasal spray of an anti‐histamine and a steroid, indicated for treatment of symptoms associated with seasonal allergic rhinitis (SAR) in patients over 12 years of age.

Under the terms of the agreement, Glenmark will be responsible for manufacturing and supply of the product, while Yuhan will be responsible for regulatory filing and commercialization of Ryaltris in South Korea.

Glenmark will receive an upfront payment, regulatory and commercial milestone payments as well as royalties from Yuhan.

Glenn Saldanha, Chairman and Managing Director of Glenmark Pharmaceuticals said, “We are happy to collaborate with Yuhan as it is a strong and reputed player in South Korea and is aligned with Glenmark’s objective to provide quality novel products to fulfill unmet needs of patients.”

At 10:45 hrs Glenmark Pharma was quoting at Rs 661.50, up Rs 5, or 0.76 percent on the BSE.

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First Published on Jan 10, 2019 10:58 am
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