Explore Business Standard
Glenmark Pharmaceuticals and Ireland-based Cosmo Pharmaceuticals NV have received approval from the Medicines and Healthcare products Regulatory Agency (MHRA) to market a product for the treatment of acne vulgaris in the United Kingdom. In a joint statement, the companies said they have received approval for Winlevi, a topical treatment for acne vulgaris in patients aged 12 years and older. As part of the agreement inked in September 2023, Glenmark in-licensed the product from Cosmo Pharmaceuticals for distribution in Europe and South Africa. "Our partnership with Cosmo Pharmaceuticals plays an important role in enabling us to expand our dermatology portfolio, and we are proud to offer this new treatment to market that can improve the quality of life for those living with acne," Glenmark Pharmaceuticals President & Business Head - Europe and Emerging Markets Christoph Stoller said. Cosmo CEO Giovanni Di Napoli said the milestone underscores the company's commitment, alongside ...
Sun Pharma is looking to fully acquire its Israel-based unit Taro Pharmaceutical Industries in order to integrate the dermatology business with itself and keep it profitable amid increasing competition in the segment, according to Managing Director Dilip Shanghvi. The Mumbai-based drug major has proposed to fully acquire Taro through a reverse triangular merger. The company has issued a letter to the Taro board with a proposal containing a non-binding indication of interest to acquire all of the outstanding ordinary shares for a purchase price of USD 38 per ordinary share in cash. Sun Pharma currently owns around 78 per cent stake in Taro. "My own assessment is that the dermatology business, which is the primary focus for Taro, is a business under constant, increasing competition pressure," Shanghvi said in an analyst call. He further said: "And as a stand-alone company, it will be very difficult for Taro as an independent company to continue to operate that business profitably. S