Glenmark Pharmaceuticals Enters Into Agreement With Grandpharma
Glenmark Specialty SA, the Swiss subsidiary of Glenmark Pharmaceuticals, has signed an exclusive licensing agreement with Grandpharma (China) Co Ltd for commercialising its novel nasal spray Ryaltris in China.
This is Glenmark's third regional licensing deal for Ryaltris. The company has already inked licensing agreements for commercializing Ryaltris in Australia, New Zealand and South Korea.
As part of the agreement, Glenmark will be manufacturing and supplying Ryaltris, while Grandpharma will be doing regulatory filing and commercialisation of the product in China.
Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals, said, "We are happy to partner with Grandpharma in China as its product portfolio complements well with Ryaltris and this partnership gives us an opportunity to tap into one of the largest pharmaceutical markets in the world. This step is aligned with our vision to make Ryaltris the first global brand of Glenmark through launches in multiple markets across the globe."