Glenmark joins hands with Bausch

New Delhi: Drug firm Glenmark Pharmaceuticals on Monday said it has entered into a pact with Bausch to commercialise its nasal spray Ryaltris in Canada.

The company's subsidiary, Glenmark Specialty SA in Switzerland and an affiliate of Bausch Health Companies Inc have entered into an exclusive licensing agreement for the commercialisation of Glenmark's innovative nasal spray Ryaltris under review by Health Canada, the Mumbai-based firm said in a regulatory filing. Under the terms of the pact, Glenmark will be responsible for regulatory approvals and supply of Ryaltris for the Canadian market and Bausch Health, Canada, will be responsible for the commercialisation of the product in Canada following regulatory approval, it added.

Glenmark will receive an upfront payment, launch and sales-based milestone payments in addition to royalties and supply price from sales of the product, the filing said. The agreement is for 10 years with an option to renew, it added. Ryaltris is currently under review by Health Canada with a proposed indication for the treatment of seasonal allergic rhinitis in adults and children over 12 years of age, it added.

"We are pleased to partner with Bausch Health Canada, and recognise their strong foothold in the prescription and OTC market in Canada," Glenmark Pharmaceuticals, North America President and Business Head Sanjeev Krishan said. This agreement will help us reach a larger patient population and extend the multiple benefits of Ryaltris to a significant market, he added. On the development, Bausch Health, Canada, President Richard Lajoie said: "We are pleased to add Ryaltris to our allergy product portfolio and eager to make it available to Canadian patients suffering from allergies". Shares of Glenmark Pharmaceuticals were trading at Rs 459.80 per scrip on BSE, up 0.24 per cent from its previous close.