More drug licensing deals will play a big part in paring Glenmark's debt

The company's US sales growth has remained subdued due to intense competition for its dermatology range.

Glenmark Pharmaceuticals’ exclusive licensing arrangement with Hikma for commercialising allergic Rhinitis spray in the US is a step in the right direction for the domestic drug marker. While Glenmark will receive some upfront and milestone payments (which it hasn’t disclosed) till the drug is approved, Hikma will be responsible for the drug’s sales in the US. Such deals are important as the upfront and milestone payments will help Glenmark lower its debt as well as product development expenses, while boosting its future growth prospects.
 

The approval for the said product, however, is anticipated by H2CY20 as the company has received