European seal of approval for Glenmark's innovation strategy
Famous as a leading Indian maker of generics, Glenmark Pharmaceuticals (BSE: 532296) has taken a major step towards boosting its credentials in the innovative medicine space, with European approval for Ryaltris (olopatadine hydrochloride/mometasone furoate).
The fixed-dose nasal spray is approved for the first line treatment of allergic rhinitis in people over the age of 12, and Glenmark will commercialize the product independently in select markets.
Italy’s Menarini will lead the commercialization effort in certain markets, including Italy, Spain and France, under the terms of a 2021 deal, for which Glenmark received an upfront payment and is eligible for further milestone payments.
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