Glenmark ties up with Polish company to develop inhaler

Glenmark has signed an agreement with Celon Pharma of Poland to develop and market generic version of GSK's dry powder inhaler 'Seritide' in Europe.

The deal will allow Glenmark to grow its respiratory business in Europe as it gets semi exclusive marketing and distribution rights across 15 European countries.

On the other hand Celon shall receive an upfront payment; followed by certain milestone payments during various stages of the product's development from Glenmark; including royalties on sales.

The distribution agreement was concluded for a period of 10 years, with an option of a two-year extension.

Seritide is used for treatment of chronic obstructive pulmonary diseases and is amongst the top three pharma brands in Europe with sales of $2.24 billion.

"The deal reinforces Glenmark's growing capabilities in the respiratory segment and is a significant step forward towards building a strong respiratory franchise in Europe;" said company chairperson Glenn Saldanha.