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Glenmark Pharmaceuticals on Wednesday announced that its Swiss subsidiary, Glenmark Specialty SA, has entered into an exclusive licensing agreement with Grandpharma (China) Co Ltd for commercialising its novel nasal spray Ryaltris in China. The agreement with Grandpharma is Glenmark’s third regional licensing deal for Ryaltris after Australia, New Zealand and South Korea.
Under the agreement, Glenmark will manufacture and supply Ryaltris, while Grandpharma will do regulatory filing and commercialisation of the product in China.
Glenmark will receive an upfront payment, regulatory filing, regulatory approval and commercial milestone payments as well as royalties from Grandpharma. Shares of Glenmark gained 0.95 per cent at ₹641.50 on the NSE.
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