Pharma firm Glenmark Pharmaceuticals today said that it has given exclusive rights to market and sell a generic version of its cholesterol tablet in US markets to Par Pharmaceutical.
Glenmark's US subsidiary Glenmark Generics Inc, has entered into an exclusive licencing agreement with Par Pharmaceutical to market Ezetimibe, Glenmark said in a filing to the Bombay Stock Exchange.
The tablets would be available in the strength of 10 mg, the filing added.
Under the terms of the licencing and supply agreement, Par Pharmaceutical has made a payment to Glenmark for exclusive rights to market, sell and distribute Ezetimibe in the US. The companies would share the profit from the sales of the product, it said.
However, the company has not disclosed the financial details of the agreement.
Ezetimibe is a generic equivalent of Merck-Schering Plough's Zetia, which is a cholesterol modifying agent.
Glenmark is currently involved in patent litigation concerning Ezetimibe in the US District Court for the District of New Jersey. Par would share control and costs with Glenmark for the ongoing litigation.
Shares of Glenmark were trading at Rs 288.60 on BSE, up 3.20 per cent from previous close.
