New Delhi:Glenmark Pharma on Friday said its subsidiary Glenmark Specialty has entered into an exclusive licensing agreement with Australia’s Seqirus to commercialise its nasal spray Ryaltris in Australia and New Zealand.

Ryaltris is indicated for treatment of symptoms associated with seasonal allergic rhinitis (SAR) in patients over 12 years of age.

“Under the terms of the agreement, Glenmark will be responsible for product supply and Seqirus will be responsible for regulatory filing and commercialisation of the product in Australia and New Zealand,” Glenmark said in a regulatory filing.

Glenmark said it will receive an upfront payment as well as regulatory and commercial milestone payments from Seqirus.

“Australia has one of the world’s highest rates of allergic rhinitis with nearly 20% of the country’s population suffering annually from this disease,” the company said.

In May 2018, Glenmark filed a New Drug Application (NDA) for Ryaltris with the US Food and Drug Administration (USFDA).

The company said it plans to commercialise Ryaltris in several key markets globally. “Glenmark will explore commercial partnerships for Ryaltris in markets where it doesn’t have direct presence,” it added.

Shares of Glenmark Pharma were trading 1.26% up at Rs588.95 on BSE.