Mumbai: Drugmaker Glenmark Pharmaceuticals Ltd announced its third licensing pact this week as it signed a deal with the US unit of Taro Pharmaceutical Industries for a branded product.
Under the agreement, Glenmark Generics Ltd will manufacture the US FDA-approved product exclusively for Taro Pharmaceuticals USA. Inc. and will receive milestone payments and a royalty on sales, it said in a statement.
Financial details of this deal were not disclosed.
“The company has not given financials but we expect the numbers to be good since it’s a branded product,” a pharma sector analyst told Reuters over the telephone.
“The royalty payments would be substantial,” another analyst said.
Glenmark on Monday had entered into a licensing deal with France’s Sanofi-Aventis for development and commercialisation of novel agents to treat chronic pain.
The company on Tuesday announced a licensing deal with US-based Par Pharmaceutical, a unit of Par Pharmaceutical Companies Inc, to market ezetimibe tablets.
9:25 a.m., shares of Glenmark were trading at Rs294 , up 3% in a Mumbai market that was down 0.47%.