Glenmark Pharmaceuticals Europe has entered into an exclusive licensing agreement for marketing generic Tiotropium Bromide dry powder inhaler, used in the treatment of chronic obstructive pulmonary disease, in Western Europe.
Glenmark Pharmaceuticals EVP & Business Head of Europe and Latin America, Achin Gupta, said: “Respiratory is a core area of focus for Glenmark and this deal shows our commitment to increase product offerings within this segment.’’
“There is significant opportunity in the inhaler market and we believe that this deal will give further impetus to Glenmark’s growth in Europe,” he added.
The company said that this is the second inhalation product in-licensed by Glenmark for the European market after Fluticasone/Salmeterol dry powder inhaler. Tiotropium Bromide DPI is a generic version of Boehringer Ingelheim’s Spiriva Handihaler.
Quoting IQVIA data, Glenmark said Boehringer Ingelheim’s Spiriva Handihaler recorded sales of $ 724 million in the European Union in the 12 month period ended March 2018.
Shares of Glenmark Pharma were trading down by 0.24 per cent at Rs 641.85 on the BSE.