Menarini to commercialize Glenmark's Ryaltris nasal spray in Europe

Indian drugmaker Glenmark Pharmaceuticals (BSE: 532296), via its Swiss subsidiary, has entered into an exclusive licensing agreement with the Italian family-controlled Menarini Group (Menarini) for commercializing its innovative nasal spray Ryaltris (olopatadine and mometasone furoate), developed by Glenmark, across 33 countries in Europe, including the Balkan region.

Ryaltris is a novel fixed-dose combination nasal spray of an anti-histamine and a steroid, indicated for treatment of symptoms associated with seasonal allergic rhinitis (SAR) in patients over 12 years of age.

Under the terms of the agreement, Glenmark will be responsible for the continued development and regulatory approval of Ryaltris in these markets. Menarini will be responsible for the scientific information and the commercialization of Ryaltris in those markets, following regulatory approval. Glenmark will receive an undisclosed upfront payment as well as launch and sales-based milestone payments from Menarini for Ryaltris sales.