Glenmark Pharma enters US branded dermatology segment
Indian drugmaker Glenmark Pharmaceuticals (BSE: 532296) today announced its foray into the branded dermatology segment in the USA. The branded portfolio for the US market will be developed and commercialized by its Glenmark Therapeutics Inc unit.
This represents an important step in the company's long-term strategy to build a robust branded business in the US, alongside the company's existing and successful generics business.
In support of this new business, Glenmark Therapeutics recently acquired the rights to seven branded dermatology products from Exeltis USA. The acquisition includes Ecoza (econazole nitrate) topical foam, 1%, an antifungal medicine indicated for the treatment of interdigital tinea pedis or athlete's foot, and Recedo topical gel, a leading prescription product for scar management. The cumulative sales of the seven acquired brands were $9 million.
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