Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Amazon Great Indian Festival Celebration Sale - 2019
Google
Web www.equitybulls.com
Stock Report

| More

Glenmark & Torrent sign licensing agreement for co-marketing of Remogliflozin Etabonate in India

Posted On: 2019-07-11 09:25:30

Glenmark Pharmaceuticals Ltd. (Glenmark), and Torrent Pharmaceuticals Limited (Torrent) today announced that they have entered into a non-exclusive sub-licensing agreement to co-market sodium glucose co-transporter-2 (SGLT2) inhibitor, Remogliflozin Etabonate (Remogliflozin) 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. Glenmark will manufacture and supply Remogliflozin while Torrent will market the drug under its own trademark 'Zucator' in India.

In April 2019, Glenmark 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 commercialize Remogliflozin under the brand name 'Zucator'. Moreover, Remogliflozin is available at a breakthrough price that is significantly lower and cost effective over other SGLT-2 inhibitors available in the country. Infact, Remogliflozin is the only SGLT2 inhibitor to be manufactured in India from active pharmaceutical ingredient (API) to formulation.

"We are pleased to partner and work closely with Torrent to provide access to innovative solutions for efficient diabetes management in India. The burden of diabetesin India is growing at an alarming rate and through this collaboration, we aim to improve access to the latest, novel and globally-researched SGLT2 inhibitor by providing an effective, high quality and world-class treatment option to patients in India. This partnership will also lay the foundation for a long term collaboration with Torrent for Remogliflozin in terms of its additional line extensions and further clinical development," said Sujesh Vasudevan, President, India Formulations, Middle East and Africa at Glenmark Pharmaceuticals.

Dhruv Gulati, Executive Director (India & ROW), Torrent Pharma, said "We are pleased to collaborate with Glenmark for the novel anti-diabetic drug Remogliflozin. The drug will augment the Type 2 Diabetes Mellitus treatment armamentarium in the country and this partnership will be an important step towards enhancing access to the growing needs of diabetic patients."

Shares of GLENMARK PHARMACEUTICALS LTD. was last trading in BSE at Rs.445.6 as compared to the previous close of Rs. 449.25. The total number of shares traded during the day was 35660 in over 1164 trades.

The stock hit an intraday high of Rs. 454.9 and intraday low of 441.2. The net turnover during the day was Rs. 15898402.

Shares of TORRENT PHARMACEUTICALS LTD. was last trading in BSE at Rs.1542.55 as compared to the previous close of Rs. 1546.45. The total number of shares traded during the day was 5680 in over 645 trades.

The stock hit an intraday high of Rs. 1558.85 and intraday low of 1534.35. The net turnover during the day was Rs. 8802087.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Maruti Suzuki collaborates with five startups under its MAIL program

Granules India Limited to divest its stake in its Joint Venture located in China

Total announces open offer for shares of Adani Gas Ltd at Rs. 149.63

Rajesh Exports Ltd expands its retail arm by opening one more Retail showroom at Chandapura, Bengaluru

Stellar listing by IRCTC

Sun Pharma Launches CEQUA for the Treatment of Dry Eye Disease in the U.S.

Birlasoft to accelerate Invacare's Business Transformation Journey

Morepen Labs adds three new drugs - Rivaroxaban, Vildagliptin and UDCA to its API portfolio

TOTAL joins Adani to create India's premier integrated gas utility

HFCL launches new line of products under brand name 'IO'

IndiGo connects the political capitals of India and Kingdom of Saudi Arabia

Shalby Ltd conferred with 'DARE to DREAM - ZEE BUSINESS AWARD - COMPANY OF THE YEAR'

Avenue Supermarts Ltd consolidated Q2 net profit at Rs. 322.66 crores

Hero MotoCorp to skip upcoming Auto Expo

Chartered Logistics Limited bags award from ZEE Business

Lawreshwar Polymers Ltd is now Lehar Footwears Ltd

CRISIL updates on credit rating of Avenue Supermarts Ltd

Wendt India Ltd board to announce Q2, H1 results on Oct 22, 2019

CARE reaffirms rating of IDFC First Bank Ltd

Reliance Capital Ltd has sold Reliance Financial Limited for Rs. 102 crore

CARE reaffirms CARE A1+ rating for Future Retail's Commercial Paper

CARE reviews ratings of Lakshmi Vilas Bank Ltd

CARE A1+ rating reaffirmed to Future Enterprises Ltd's Commercial Paper

Reliance Capital Ltd has sold Reliance Securities Limited for Rs. 62 crore

Cadila Healthcare's API manufacturing facility at Dabhasa successfully completes USFDA inspection

MD of Jiya Eco-Products Ltd felicitated with award

RCAP approves Management Buyout of 100% Stake in Reliance Securities

GOCL Corporation Ltd receives order from Coal India Limited

Den Networks Ltd consolidated PAT at Rs. 14.71 crores in Q2

Bajaj Consumer Care Ltd Q2 consolidated net profit at Rs. 56.02 crore

ITI Ltd consolidated Q2 PAT of Rs. 7.19 crore

BOB executes binding transaction documents with BNP Paribas Asset Management Asia Limited

Goa Carbon Ltd to shut down Goa Plant for maintenance work from Oct 12, 2019

Infosys Ltd declares interim dividend of Rs. 8

Aurobindo Pharma Ltd clarifies on Unit-7 inspection outcome

Infosys Ltd reports consolidated PAT of Rs. 4019 crores in Q2

CARE reaffirms ratings of Yuken India Limited

BASF India Ltd receives notices from Commercial Tax Department, Karnataka

Indiabulls Real Estate Ltd board approves buyback at Rs. 100

Gagan - Sustainability Initiative in Cotton Farming by Indo Count Industries Ltd

SCI observed 02nd October as its 59th Foundation Day

RED FM's Swag Fest 3.0 says 'Go Mental'

Sterlite Power Grid Ventures Limited pledges units of India Grid Trust

Atishay Limited has received work order from the office of the Chief Electoral Officer of Maharashtra State

Thomas Cook India Ltd receives NCLT nod for scheme of arrangement

Indiabulls Ventures Limited Board approves Buyback of equity shares at Rs. 150

Blue Star declared winner of the prestigious 'Golden Peacock Award for Excellence in Corporate Governance' for 2019

Cognizant Named a Digital Workplace Services Leader in New Industry Report

CDB Aviation Delivers First of Nine A321neos to IndiGo

SMS Lifesciences India Ltd sees temporary slow-down in sales of Ranitidine







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019