Glenmark arm to market 7 drugs in US

Glenmark Pharmaceuticals USA, the wholly-owned subsidiary of Glenmark Pharmaceuticals, has signed another supply and marketing agreement with Lehigh Valley Technologies (LVT) for the manufacturing and marketing of 7 products for the US market.

According to an official release issued by Glenmark to the BSE today, as per the agreement, LVT will develop and manufacture the products, which are in the C-II (controlled substances) category having limited competition. These products will be filed with the FDA under the Glenmark's name and marketed exclusively by it in the United States. The company expects to launch these products starting FY09.

These products, which are for pain management comprise both, Para 3 and Para 4 applications, and are a mix of immediately release and controlled release solid oral dosage formulations. The market is estimated at $2.8 billion.

Glenn Saldanha, MD and CEO of Glenmark stated: "Our second deal with LVT greatly enhances our product basket and takes us closet to establishing our presence as a Company selling niche products in the highly competitive US generics market. Presently, we are marketing 10 products in the US and expect to meet our target of ending the year with 18 to 22 generics in the market."

Terrance Coughlin, president of Glenmark Pharmaceuticals Inc., USA said: "The LVT collaboration is in line with our strategy of developing our product portfolio with products having greater margins and sustainability. We have already captured significant inroads into this niche market with the launch of the two Aspen products since August 2006."