Glenmark Pharmaceuticals forays into branded dermatology segment in U.S.

Glenmark Pharmaceuticals announced its foray into the branded dermatology segment in the United States. The branded portfolio for the US market will be developed and commercialized by Glenmark Therapeutics Inc., USA, which is a wholly owned subsidiary of Glenmark Holding, SA. This represents an important step in the company's long-term strategy to build a robust branded business in the US, alongside the company's existing and successful generics business.

In support of this new business, Glenmark Therapeutics recently acquired the rights to seven branded dermatology products from Exeltis USA, Inc. The acquisition includes Ecoza (econazole nitrate) topical foam, 1%, an antifungal medicine indicated for the treatment of interdigital tinea pedis or athlete's foot, and Recedo topical gel, a leading prescription product for scar management. The cumulative sales of the seven acquired brands were USD 9 million.

 

All the acquired products are currently approved and marketed in the US, giving Glenmark Therapeutics an immediate entry into the topical branded products segment. In addition, Glenmark Therapeutics intends to launch other branded dermatology products over the next 12 months.

Glenmark Therapeutics' acquisition also includes the Exeltis dermatology field force, which manages well-established relationships with healthcare professionals. Glenmark plans to have a field force of about 30 sales representatives for the branded division.

According to IQVIA sales data for the 12-month period ending October 2018, the topical branded dermatology products market in the US is estimated to be valued at USD 1.9 billion and has been growing at a CAGR of 6.6% over the last five years.

Powered by Capital Market - Live News