NEW DELHI, June 24: Drug major Glenmark Pharmaceuticals Monday said its subsidiary Glenmark FarmacC*utica has entered into an exclusive partnership agreement with Novartis Biosciences SA for three respiratory products in Brazil.
The products involved in the agreement are Seebri (Glycopyrronium bromide), Onbrize (Indacaterol) and Ultibro (combination of Indacaterol and Glycopyrronium), which are indicated for relief of symptoms in adults with chronic obstructive pulmonary disease (COPD).
Under the terms of the agreement, Novartis will remain the holder of the registration of these medicines and will be responsible to manufacture them with all technical excellence in line with its global commitment to quality, effectiveness and safety, Glenmark said in a regulatory filing.
Glenmark will be responsible for promoting, commercialising and distributing of these products in Brazil, the company added.
This agreement will be effective from July 1, 2019 onwards.
Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said this arrangement with Novartis Biosciences SA will strengthen its respiratory franchise in Brazil.
“This partnership is in line with our vision to expand our respiratory product offerings for patients and prescribers in Brazil and further consolidate our position in this segment,” Saldanha said.
Shares of Glenmark Pharma were trading 6.08 per cent lower at Rs 469.80 apiece on BSE. (PTI)
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