Mumbai: Indian drugmaker Glenmark Pharmaceuticals said on Monday it has filed for arbitration claims against its partner Napo Pharmaceuticals to prevent the latter from distributing an HIV-associated drug in Glenmark’s territories through relief agencies.
Glenmark along with US-based partners Napo and Salix Pharmaceuticals has developed ‘Crofelemer’, a drug to treat HIV-associated diarrhoea.
According to the licensing agreement, Glenmark holds the exclusive rights to distribute Crofelemer in 140 countries while Salix would distribute the drug in regulated markets like North America, Japan and Europe.
Glenmark believes, contractually it has exclusive legal rights with respect to relief agency distribution as well in the specified 140 countries and it has resources to meet the demand, it said in a statement.
The drug is expected to be launched in India in 2012.
At 11:47 am, shares of Glenmark Pharmaceuticals, valued at Rs8,753 crore, were trading down 1.88% at Rs317.65 in a Mumbai market that was down 2.23%.