In a bid to tap overseas market, Glenmark Pharmaceuticals Ltd's wholly owned US subsidiary has entered into a product development and marketing licence agreement with US-based K V Pharmaceutical Company for eight generic products in a deal valued over $80 million.
"The generic products under this agreement have annual branded sales in excess of $2.5 billion and expect sales to start by end of calender year 2005," Glenmark Pharma managing director Glenn Saldanha told reporters in Mumbai on Wednesday.
The agreement inked by Glenmark Pharmaceuticals Inc also provides for development and licensing of additional generic Abbreviated New Drugs Application (ANDA) products as well as certain "branded" speciality products, which may incorporate the company's proprietary platform controlled release technology, he said.
However, he declined to divulge details about the products or their segments.
The $80 million deal, includes upfront fee, milestone and royalty payments from K V Pharma in exchange for marketing rights to Glenmark products, Saldanha said adding, most of the milestone payment is expected to come in FY-05.
The whole amount is expected to come in a space of 10 years, the MD said.
The companies would also collaborate to secure US regulatory approval of the products, he said.
Glenmark Pharma US has a marketing agreement with US-based Lannet Company Inc to market ANDAs, which the former would file in 2004-05.
© 2025