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Glenmark Pharma enters into an Exclusive Licensing Agreement with Yuhan Corporation for Ryaltris in South Korea

Posted On: 2019-01-10 12:22:58

Glenmark Pharma enters into an Exclusive Licensing Agreement with Yuhan Corporation for Ryaltris in South KoreaGlenmark Pharmaceuticals Ltd. (Glenmark), a research-led global integrated pharmaceutical company, today announced that its 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 Glenmark's second regional licensing deal for Ryaltris. In July 2018, Glenmark entered into an exclusive licensing agreement with Seqirus Pty. Ltd. to commercialize Ryaltris in Australia and New Zealand.

Ryaltris [olopatadine hydrochloride (665 mcg) and mometasone furoate (25 mcg)], developed by Glenmark, 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.

"This partnership with Yuhan is in line with our vision to make Ryaltris the first global brand of Glenmark by launching it in several key markets. 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," said Glenn Saldanha, Chairman and Managing Director of Glenmark Pharmaceuticals.

In May 2018, Glenmark filed a New Drug Application (NDA) for Ryaltris with the US Food and Drug Administration (US FDA), which is currently under review with the regulator.

Glenmark plans to commercialize Ryaltris in various markets globally. The company will continue to explore commercial partnerships for Ryaltris in markets where it doesn't have direct presence.

Shares of GLENMARK PHARMACEUTICALS LTD. was last trading in BSE at Rs.653.5 as compared to the previous close of Rs. 654.8. The total number of shares traded during the day was 14154 in over 390 trades.

The stock hit an intraday high of Rs. 659.8 and intraday low of 649.4. The net turnover during the day was Rs. 9267122.


Source: Equity Bulls

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