Small BusinessGlenmark, Medicis sign two agreements
Glenmark Pharmaceuticals today announced two significant agreements with US-based Medicis Pharmaceutical Corporation.
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Glenmark will co-develop a dermatological product with Medicis, for which it will receive $ 5 million as one-time payment. Separately, its generic arm, Glenmark Generics, agreed with Medicis to settle all pending patent issues with two of the latter’s products.
According to Glenmark officials, Medicis will conduct phase-III clinical trials of Glenmark’s patented new drug delivery system for the treatment of acne in the US.
The three-year clinical trials will also see Glenmark receiving milestone payments at the end of each stage of drug development. It will also get royalty if the product is commercialised in US.
Glenn Saldanha, Managing Director and CEO of Glenmark, said: “Both Glenmark and Medicis have extensive experience in the dermatological market segment and this collaboration will allow us to bring a promising new treatment alternative to patients.”
Meanwhile, Glenmark Generics settled all pending litigation between Glenmark and Medicis on Fluocinonide, the generic version of Medicis’ Vanos cream and Ciclopirox Olamine, the generic version of Medicis’ Loprox gel.
Under the agreement, Glenmark will be able to market and distribute its generic version of Vanos cream under a licence from Medicis as early as December 2013, or earlier in certain circumstances. In addition, Glenmark will get a licence to launch a generic version of Loprox gel 0.77 per cent, supplied by Medicis.