Wednesday, Apr 24 2024 | Time 20:46 Hrs(IST)
image
Business EconomyPosted at: Jan 20 2022 11:46AM


Glenmark, Lotus enter into exclusive licensing agreement for Ryaltris

Mumbai, Jan 20 (UNI) Pharmaceutical firm Glenmark Pharmaceuticals on Thursday said its Swiss subsidiary has entered into an agreement with a wholly-owned subsidiary of Lotus Pharmaceutical, for commercialising its innovative nasal spray Ryaltris in Singapore, Hong Kong and Vietnam.
Glenmark's Swiss subsidiary, Glenmark Specialty and Lotus' wholly owned subsidiary Lotus International have entered into an exclusive licensing agreement for commercialising its innovative nasal spray Ryaltris in Singapore, Hong Kong and Vietnam, the company said in a statement.
Under the terms of the agreement, Glenmark will be responsible for the manufacture and supply of Ryaltris, whereas Lotus will be responsible for commercialization of Ryaltris (subject to receipt of regulatory approvals), in these markets.
Glenmark will receive an upfront payment as well as regulatory and sales based milestone payments from Lotus, the company said.
“We are excited to partner with Lotus for Ryaltris as it is a strong and reputed player in the region and is aligned with Glenmark’s objective to provide quality novel products to fulfill unmet needs of patients with allergic rhinitis.
This partnership will provide patients access to a highly effective and proven treatment for allergic rhinitis in these key South-East Asian markets,” Glenmark Pharmaceuticals Chief Commercial Officer Robert Crockart said.
Commenting on the development, Lotus Chief Executive Officer Petar Vazharov said, “As being strongly committed to making a difference for all patients, we are honored to partner with Glenmark to ensure this novel spray drug accessible to patients in South East Asia.
This is also the first Brand product to be included in our respiratory portfolio with strong clinical data and IP protection. The partnership not only strengthens the competitiveness of our overall product portfolio but also accelerates our expansion in key SEA countries.”
UNI PSK GNK
Please log in to get detailed story.
Tags: #Glenmark# Lotus enter into exclusive licensing agreement for Ryaltris
More News

Dish TV revolutionises entertainment with ‘Dish TV Smart+’ services

24 Apr 2024 | 7:31 PM

Kolkata, Apr 24 (UNI) Dish TV has taken a path-breaking initiative to redefine the entertainment experience in India.

see more..

TRAI recommends sharing of active, passive infra by telecom providers

24 Apr 2024 | 7:03 PM

New Delhi, April 24 (UNI) With a view to improve quality of services and reducing cost, the telecom regulator TRAI on Wednesday recommended sharing of active and passive infrastructure among telecom service providers, a move that would help setting up network quickly across the nation.

see more..

REC to provide loan of Rs 1869 cr to Chenab Valley Power Project in J&K

24 Apr 2024 | 6:38 PM

New Delhi, April 24 (UNI) State-owned non-banking finance company REC Limited has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL), under which it will provide financial assistance of Rs 1,869.265 crore as a term loan.

see more..

Nissan establishes new Sales and Service network in Durgapur

24 Apr 2024 | 6:36 PM

Kolkata, Apr 24 (UNI) Nissan Motor India Pvt. Ltd. (NMIPL) on Wednesday unveiled a new state-of-the-art dealership and a service workshop at industrial Durgapur town in West Burdwan.

see more..

Car owners demand better roads in 2024 election survey

24 Apr 2024 | 6:35 PM

New Delhi, April 24 (UNI) In a recent Park+ survey, 98% of Indian car owners are calling for improved road infrastructure from political contenders in the 2024 Lok Sabha elections.

see more..
image