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Glenmark Generics, the US subisidary of Glenmark, has filed a lawsuit in a US court to enforce its exclusive royalty-bearing licence agreement. According to a statement issued on Thursday, Glenmark filed a lawsuit against Triax Pharmaceuticals, Astellas Pharma Europe BV and Astellas Pharma International BV in the Court of Chancery of the State of Delaware.
Under the agreement with the three companies, Glenmark was entitled to 180 days of exclusivity with respect to its skin care drug - Hydrocortisone Butyrate Cream (generic of Locoid Lipocream), as it is the first generic company to file an abbreviated new drug application (ANDA) for the product.
Though Glenmark has the right to launch the generic drug, it was forced to move legally as another company Metacon Labs had launched a generic equivalent of Locoid Lipocream in the US.
Under the agreement with the three companies, Glenmark was entitled to 180 days of exclusivity with respect to its skin care drug - Hydrocortisone Butyrate Cream (generic of Locoid Lipocream), as it is the first generic company to file an abbreviated new drug application (ANDA) for the product.
Though Glenmark has the right to launch the generic drug, it was forced to move legally as another company Metacon Labs had launched a generic equivalent of Locoid Lipocream in the US.
"Glenmark is seeking, among other things, a temporary restraining order enjoining the sale, manufacturing or marketing of generic equivalents of Locoid Lipocream by any of the defendants in violation of Glenmark’s exclusivity period," said the statement.
On Thursday, shares of Glenmark were closed at Rs 586.7, up by 2.83 on BSE.
Hydrocortisone Butyrate Cream is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses. According to IMS Health sales data for the 12 month period ending June 2013, Hydrocortisone Butyrate Cream garnered annual sales of approximately $34 million.
