Glenmark announces tie up for anti cancer drug

Drug maker Glenmark has signed up with US based research organisation Particle Sciences Inc to develop and distribute generic version of an anti cancer injectable 'Abraxane' giving boost to its oncology portfolio.

Abraxane marketted globally by Celgene had reported sales of $967 million of which $654 million were in the US.

Initially, the company plans to launch the product in the US and expects to file abbreviated new drug application in 2019. As per the terms of agreement Particle Sciences Inc will develop the product exclusively for Glenmark and shall receive certain milestone payments during development and royalties from sale.

"The partnership is a significant development in Glenmark's complex generics strategy and we are pleased to collaborate with Particle Sciences given their strong technical capabilities and understanding of particulate injection products. This is a challenging product to develop and we expect it to remain a limited competition opportunity," Glenmark's president (North America and global API) Robert Matsuk said in a statement.