Glenmark partners Cyndea to develop soft-gelatin capsule
New Delhi: Drug major Glenmark Pharmaceuticals on Wednesday said it has entered into an agreement with Cyndea Pharma for developing generic soft-gelatin capsule formulations of certain pharmaceutical products.
In a BSE filing, Glenmark Pharmaceuticals said it has “entered into a development, license, manufacture and commercial supply agreement with Cyndea Pharma S L, granting exclusive rights to use their technology for developing generic, soft-gelatin capsule formulations of certain pharmaceutical products”.
Under this agreement, Glenmark receives exclusive rights to the US and Canada markets for these soft-gelatin formulations in exchange for sharing development costs and profits from future sales.
In addition, the agreement provides for the companies to add further soft-gelatin product candidates for development and commercialisation, as new branded softgelatin capsule-based drug products become available in the marketplace, Glenmark added.
Glenmark Pharmaceuticals president, North America, Global API Robert Matsuk said as many as 70% of small molecule pharmaceuticals are difficult for the body to absorb, which leads to challenges in developing effective oral formulations for these medicines.
“The use of soft-gelatin capsules have wide applications to improve absorption and bio-availability of these medicines. Accessing this formulation and manufacturing technology with our strategic partner Cyndea will support Glenmark’s continued mission of providing important and cost-effective generic medicines to patients,” he added.
Shares of Glenmark Pharmaceuticals were trading up 1.84% at Rs704.35 on the BSE.