Glenmark Pharma inks deal with MeyerZall Labs
Drug maker Glenmark Pharmaceuticals Ltd has signed a 10-year marketing and distribution rights agreement with South Africa-based MeyerZall Laboratories.
By Agencies |
MUMBAI: Drug maker Glenmark Pharmaceuticals Ltd on Thursday said it has signed a 10-year marketing and distribution rights agreement with South Africa-based MeyerZall Laboratories.
The deal inked between Glenmark Pharmaceuticals South Africa, a wholly-owned Swiss subsidiary of Glenmark Pharmaceuticals Ltd, and MeyerZall Laboratories is meant to facilitate the expansion of its topical dermatology portfolio, the company said in a communiqué to the Bombay Stock Exchange.
Therapeutic areas covered by this distribution agreement include Psoriasis, Fungal infections of the skin and inflammation, Mumbai-headquartered Glenmark informed.
Pursuant to this agreement, the company will have new products namely Linotar Gel 1, Covarex and Athru-Derm, all with unique patented delivery systems, the company said.
"This deal will significantly add to our existing range of Synalar, Synalar-C, Synalar-N and Naseptin, and create a significant niche in the area of dermatology for Glenmark in South Africa," Glenmark Pharmaceuticals Ltd Director (Formulations) A S Mohanty said.
"With the addition of these products to Glenmark's portfolio, we are now able to offer one of the widest topical dermatology baskets in the South African market," Mohanty added.
Glenmark is one of the leading players in the Indian dermatology segment with Candid B featuring among the top 300 pharmaceutical products in the country.
Shares of the company were last trading 1.32 per cent down at Rs 440.50 at the BSE.
The deal inked between Glenmark Pharmaceuticals South Africa, a wholly-owned Swiss subsidiary of Glenmark Pharmaceuticals Ltd, and MeyerZall Laboratories is meant to facilitate the expansion of its topical dermatology portfolio, the company said in a communiqué to the Bombay Stock Exchange.
Therapeutic areas covered by this distribution agreement include Psoriasis, Fungal infections of the skin and inflammation, Mumbai-headquartered Glenmark informed.
Pursuant to this agreement, the company will have new products namely Linotar Gel 1, Covarex and Athru-Derm, all with unique patented delivery systems, the company said.
"This deal will significantly add to our existing range of Synalar, Synalar-C, Synalar-N and Naseptin, and create a significant niche in the area of dermatology for Glenmark in South Africa," Glenmark Pharmaceuticals Ltd Director (Formulations) A S Mohanty said.
"With the addition of these products to Glenmark's portfolio, we are now able to offer one of the widest topical dermatology baskets in the South African market," Mohanty added.
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Glenmark is one of the leading players in the Indian dermatology segment with Candid B featuring among the top 300 pharmaceutical products in the country.
Shares of the company were last trading 1.32 per cent down at Rs 440.50 at the BSE.
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