Mumbai: Glenmark Pharmaceuticals on Wednesday said it has entered into an agreement with Switzerland-based drug firm Stratpharma AG, to market and distribute skin care product Strataderm, in India.
The entry into the scar management therapy will strengthen Glenmark’s leadership position in the dermatology segment, the Mumbai-based company said in a filing to the Bombay Stock Exchange.
Starderm was developed for use on all types of scars including those resulting from general surgery, trauma, chronic wounds, burns and other skin diseases.
The estimated market size of scar and marks removal cream in India is around Rs80 crore.
This is our first in-licensed product for the Indian market and will be available in a gel formulation in a 10 gm tube, Glenmark Pharmaceuticals Director Formulations A S Mohanty said.