The move will advance Glenmark’s vision of helping Ryaltris gain access to several key markets worldwide.
India’s drug major, Glenmark Pharmaceuticals Ltd. has recently announced that its Swiss subsidiary Glenmark Specialty S.A. has entered a licensing agreement with pharma giant Yuhan Corp. of South Korea for commercializing its new nasal spray Ryaltris in the country.
Reportedly, the agreement is the second regional licensing agreement that Glenmark signed for Ryaltris. In July 2018, the company had entered into a licensing agreement to commercialize Ryaltris in New Zealand and Australia with Seqirus Pty. Ltd., claim reports.
For the record, Ryaltris is a new, fixed-dose combination nasal spray prescribed for treatment of symptoms associated with SAR (seasonal allergic rhinitis) in patients over 12 years of age.
Sources claim that Glenmark, as per the terms of the agreement, will manufacture and supply Ryaltris, while Yuhan will be responsible for regulatory filing and commercialization of the drug in South Korea. Furthermore, Glenmark will receive an upfront payment, commercial and regulatory milestone payments as well as royalties from Yuhan, cite sources.
According to The Hindu Business Line, Glenn Saldanha, MD & Chairman, Glenmark Pharmaceuticals, said that the partnership with Yuhan is in line with the firm’s vision to make Ryaltris the first global brand of Glenmark by launching it in several key markets.
Reportedly, in May 2018, Glenmark filed an NDA (New Drug Application) with the U.S. Food and Drug Administration (USFDA) for Ryaltris, which is currently under review with the regulator.
As per a statement, Glenmark said it plans to commercialize Ryaltris in various markets globally. The company will continue to seek commercial partnerships for Ryaltris in markets where it lacks direct presence, it added.
Market reports cite that shares of Glenmark Pharma were recently trading 0.84% higher at Rs 662 apiece on BSE.