NEW DELHI: Glenmark Pharmaceuticals Ltd's Swiss arm announced on Thursday that it has signed an exclusive licencing agreement with Lotus International Pte Ltd to market its novel nasal spray Ryaltris in Singapore, Hong Kong, and Vietnam.
Glenmark Specialty SA will be responsible for the manufacturing and supply of Ryaltris under the terms of a contract agreed between Glenmark Specialty SA and Lotus Pharmaceutical Co, Ltd (Lotus).
Lotus, on the other hand, will be responsible for its commercialization in these areas, subject to regulatory approvals, the firm said in a statement. Lotus will pay Glenmark an upfront payment as well as regulatory and sales-based milestone payments, according to the statement.
Commenting on development, Glenmark Pharmaceuticals Ltd Chief Commercial Officer Robert Crockart said: "This cooperation will give patients in these key South-East Asian regions access to a highly effective and proven medication for allergic rhinitis."
Glenmark's Ryaltris is a unique, fixed-dose combination nasal spray containing an antihistamine and a steroid for the treatment of symptoms associated with allergic rhinitis in adults and children aged 12 and up.