Pharma firm Glenmark today said it has settled all pending patent disputes with US-based Medicis Pharmaceutical Corp over a skin disease drug, besides signing a licensing agreement for new drug delivery system (NDDS).
The company through its US-based subsidiary Glenmark Generics Inc has announced the settlement of all litigation pending between Medicis and Glenmark related to the generic version of Vanos and Loprox gel, used in the treatment in dermatology therapeutic area, Glenmark Pharmaceutical spokesperson told PTI.
Under the terms of the agreement Glenmark will be able to market and distribute the generic version of Vanos cream under license from Medicis from December 2013. In addition, Glenmark will be able to launch the generic version of Loprox gel in 0.77 per cent strength immediately, he added.
Vanos Cream has a total market of $35 million and Loprox Gel has an annual market of $15 million in US.
The company has also entered into a license agreement with Medicis Pharmaceutical Corporation to co-develop and commercialise its pateneted NDDS, Glenmark Pharmaceuticals said in a statement.
The new patented NDSS is for the dermatology therapeutic segment and pursuant to the outlicensing agreement, Glenmark will receive an upfront payment of five million dollars and also eligible to receive additional payments upon achieving certain development milestones and royalty upon commercialisation, it added.