Hikma gains rights to market Ryaltris in USA

London-listed generics company Hikma Pharmaceuticals (LSE: HIK)  and a Swiss subsidiary of India’s Glenmark Pharmaceuticals (BSE: 532296) today announced the signing of an exclusive US license deal to commercialize Ryaltris (olopatadine Hcl and mometasone furoate nasal spray), an investigational fixed-dose combination nasal spray for the treatment of seasonal allergic rhinitis (SAR).

Under the terms of the agreement, Glenmark will be responsible for the continued development and regulatory approval of Ryaltris by the US Food and Drug Administration. Hikma will be responsible for the commercialization of Ryaltris in the USA following approval. Hikma would also have the ability to produce the product utilizing its nasal manufacturing capabilities in Columbus, Ohio. Hikma will provide Glenmark with an upfront payment, regulatory approval and commercial milestone payments as well as royalties. Further financial terms were not disclosed.

Hikma’s shares were up 4.4% at 1,906,50 pence by late morning (though that could be due to financials; see below), while Glenmark closed down 0.88% at 293.30 rupees.