Glenmark, Cyndea Pharma to develop complex drugs for US, Canada markets
Glenmark has tied up with Spanish firm Cyndea Pharma to develop complex drugs for US and Canada markets.
Following the tie up Glenmark will develop soft-gelatin capsule products under the technology license from the Spanish drug maker. The partnership allows Glenmark to expand its dosage forms and launch new products. Glenmark earns over 35 per cent revenue from US but the market is seeing increased competition and pricing pressure.
Developing an in-house technology for soft-gelatin capsules would have taken longer and the tie up will quicken product launches for Glenmark.
Glenmark's president (North America) Robert Matsuk said as many as 70 per cent of the small molecule pharmaceuticals are difficult for the body to absorb which leads to challenges in developing effective oral formulations for these medicines.
"The use of soft-gelatin capsules have wide applications to improve absorption and bio-availability of these medicines. Accessing this formulation and manufacturing technology with our strategic partner Cyndea will support Glenmark's continued mission of providing important and cost-effective generic medicines to patients," he said.
Under the terms of the agreement, Glenmark and Cyndea will share all costs and profits from future sales. The capsules will be manufactured at Cyndea's facilities.
Last December, Glenmark released its strategic blueprint for the next decade outlining an increased spending towards research and development and a focus on differentiated dosage forms and in licensing of complex drugs. The company is also developing speciality respiratory and dermatology products as a part of its long-term growth strategy.