Glenmark ties up with Evestra to develop contraceptive

The companies will file for product approval in FY19

Glenmark Pharmaceuticals has tied up with Evestra Inc to develop and market a generic version of Merck's female contraceptive product. The companies will file for product approval in financial 2019.

Under the agreement, Evestra will develop generic version of NuvaRing exclusively for Glenmark for the US market and will receive certain milestone payments during various stages of its development, including royalties on net sales, Glenmark said.

"The partnership with Evestra. expands our portfolio into a leading non-daily contraceptive option prescribed for millions of women in the US," Glenmark's North America and Global API President Robert Matsuk said.