Glenmark Pharmaceuticals Thursday announced the launch of Nourkrin, used to treat hair loss, in the Russian market.
The product catering to both male and female patients will be exclusively marketed in Russia by Glenmark Impex LLC, a subsidiary of the company, under a licensing agreement with Denmark's Pharma Medico ApS.
Glenmark has already launched Nourkrin Woman in India early this year.
"It is a much-awaited product, as the problem of hair loss affects quite a significant proportion of the population. Glenmark has a strong portfolio of dermatology products in Russia... Nourkrin will be a great addition to this portfolio, Csaba Kantor, Senior Vice President & Head - Asia, Russia & CIS, Glenmark Pharmaceuticals, said in a statement.
According to a survey conducted by market research firm GfK in 2017, 18.7 million women and 14.1 million men in Russia experienced hair loss over the preceding 12 months.
Nourkrin Woman and Nourkrin Man, available as tablets, are an easy-to-use therapy compared to clinical procedures and hair sprays and creams. The product will be available through retail pharmacy chains as well as online pharmacies.
Glenmark shares were trading 1.43 per cent up at Rs 629.85 on the BSE.