Glenmark Generics licenses branded drug to Taro USA
06 May 2010
Glenmark Pharmaceutical's US subsidiary Glenmark Generics Inc has entered into an exclusive license and supply agreement for a branded product with Taro Pharmaceuticals USA, Inc, a subsidiary of Israel-based Taro Pharmaceutical Industries Ltd.
Under the agreement, Glenmark will manufacture the FDA approved product exclusively for Taro USA. Taro USA's branded division TaroPharma will be the exclusive US distributor of the product.
Glenmark will receive milestone payments and a royalty on sales. Glenmark did not disclose other terms of the agreement.
Glenmark has signed a spate of agreements over the past few weeks. This week alone it signed two deals - one with Par Pharmaceuticals and the other with Sanofi-Aventis.
Glenmark Generics and Par Pharmaceutical entered into an exclusive licensing agreement for marketing the generic version of Merck & Co's `Zetia', earlier this week. Under the terms of the agreement, the US specialty pharmaceutical company has made a payment to Glenmark for exclusive rights to market, sell and distribute ezetimibe 10 mg tablets, the generic version of Zetia in the US.
Glenmark Pharmaceuticals SA, Glenmak's South African subsidiary, entered into an agreement with Sanofi-Aventis granting the multinational a licence for development and commercialisation of novel agents for the treatment of chronic pain.