Glenmark UK & Merck Generics sign development and marketing agreement for 8 dermatological products for Europe

Glenmark Pharmaceuticals Ltd has announced that Glenmark Pharmaceutical (UK) Ltd (Glenmark UK), a wholly owned subsidiary of the Company and Generics (UK) Ltd, on behalf of the Merck Generics Group (Merck Generics), a subsidiary of Merck KGaA of Darmstadt, Germany, have entered into an agreement for the joint development, filing and marketing of 8 generic dermatological products for Europe, which have a current a sales value of around USD 225 Mn in the region.

As per the agreement, the Company will develop, manufacture and supply the products while both the companies would be responsible for their own sales and marketing. The first of these products has already been filed and is targeted to be launched in 2007; the remaining products are forecasted to be launched by 2010.

Glenn Saldanha, MD add CEO of the Company stated, "We are happy to partner with Merck Generics, which besides being a well respected global generic pharmaceutical player, also has a strong sales presence in Europe. Moreover, our association is a testament to Glenmark’s combined strengths in dermatology and R&D."

Source : Equity Bulls

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