Glenmark, Torrent Pharma ink pact to co-market diabetes drug in India
BusinessToday.In July 11, 2019
Drug makers Glenmark Pharmaceuticals and Torrent Pharmaceuticals on Thursday said they have entered into a non-exclusive sub-licencing agreement to co-market diabetes drug Remogliflozin Etabonate in India. The companies, however, did not disclose financial details of the licencing agreement.
As per the agreement, Glenmark will receive an upfront payment, licence fees and royalties for the non-exclusive sub-license rights from Torrent.
"Glenmark will manufacture and supply Remogliflozin while Torrent will market the drug under its own trademark 'Zucator' in India," Glenmark Pharma said in a filing to the Bombay Stock Exchange.
In April 2019, Glenmark had received approval from the Drugs Controller General of India (DCGI) for Remogliflozin Etabonate after successfully completing phase-3 clinical trials in which the drug demonstrated good efficacy and safety profile in a head-to-head comparison against Dapagliflozin. Subsequently, Glenmark launched Remogliflozin, indicated in the treatment of Type 2 Diabetes Mellitus in adults under the brand names 'Remo' and 'Remozen', while Torrent commercialised Remogliflozin under the brand name 'Zucator'.
Commenting on the development, Sujesh Vasudevan, Glenmark Pharmaceuticals President, India Formulations, Middle East and Africa, said, "The burden of diabetes in India is growing at an alarming rate and through this collaboration, we aim to improve access to the latest, novel and globally- researched sodium glucose co-transporter-2 (SGLT2) inhibitor by providing an effective, high quality and world-cass treatment option to patients in India." "This partnership will also lay the foundation for a long term collaboration with Torrent for Remogliflozin in terms of its additional line extensions and further clinical development,' he added.
"The drug will augment the Type 2 Diabetes Mellitus treatment armamentarium in the country and this partnership will be an important step towards enhancing access to the growing needs of diabetic patients," said Dhruv Gulati, Executive Director (India & ROW), Torrent Pharma.
Meanwhile, the shares of Glenmark Pharma were trading 1.74 per cent higher at Rs 453.25 apiece on the Bombay Stock Exchange. Torrent Pharma shares were quoting at Rs 1,549.95, up 0.01 per cent, on the BSE.
Edited by Chitranjan Kumar