Glenmark inks agreement with Astrazeneca to commercialize its product Pulmicort Respules® in Columbia

Glenmark Pharmaceuticals, an innovation-driven, global pharmaceutical company, today announced that its subsidiary Glenmark Pharmaceuticals Colombia S.A.S. and Astrazeneca Colombia S.A.S. have entered into an exclusive licensing agreement for the commercialization of Astrazeneca's drug Pulmicort Respules®. Under the terms of the agreement, Astrazeneca remains the holder of the registration for Pulmicort Respules® and will be responsible for manufacturing and supplying the drug. Glenmark will be responsible for commercialization of Pulmicort Respules® in the Colombian market.

Commenting on the agreement, Mr. Marco Cerato, Executive Vice President and Global Head - Business Development, Glenmark Pharmaceuticals, said, "We are excited to collaborate with Astrazeneca and ensure continued and increased access of Pulmicort Respules®, a high quality essential therapy to Colombian patients suffering from bronchial asthma. It will also help us in strengthening our key therapy area of respiratory medicine, in the region".

Glenmark's current respiratory portfolio in Latin America includes Glemont L (Montelukast + Levocetorizine), Glencet; Levocetirizine, Furomet (Mometasone NS), Complebrez (Formoterol + Budesonide) and Sibet (Salmeterol + Fluticasone). Glenmark's partnership with Astrazeneca will ensure continued and increased access of this essential therapy, and thus bring in much needed therapeutic relief to asthma patients in Colombia.

Shares of Glenmark Pharmaceuticals Limited was last trading in BSE at Rs. 478.45 as compared to the previous close of Rs. 489.60. The total number of shares traded during the day was 76702 in over 3807 trades.

The stock hit an intraday high of Rs. 494.95 and intraday low of 475.50. The net turnover during the day was Rs. 37199587.00.

Source : Equity Bulls

Keywords

GlenmarkPharmaceuticals INE935A01035 AstrazenecaColombia LicesingArrangement PulmicorRespules