Glenmark Pharma Enters Exclusive Agreement With Cyndea Pharma S.L. For Generic Soft-Gelatin Capsule Drug Products
MAHWAH, N.J., July 18, 2017 /PRNewswire/ -- Glenmark Pharmaceuticals, a global pharmaceutical company, announced today 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.
"As many as 70 percent of small molecule pharmaceuticals are difficult for the body to absorb, which leads to challenges in developing effective oral formulations for these medicines,"1 said Robert Matsuk, President, North America, Global API at Glenmark Pharmaceuticals. "Because of these challenges, the use of soft-gelatin capsules have wide applications to improve absorption and bioavailability 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."
Under this agreement, Glenmark receives exclusive rights to the United States 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 commercialization, as new branded, soft-gelatin, capsule-based drug products become available in the marketplace.
"Glenmark is an ideal partner to expand our soft-gelatin technology into much needed therapeutic categories and markets," said Gonzalo Ballesteros, Managing Director of Cyndea. "Cyndea has made significant financial investments in both its new Madrid-based research and development facility and state-of-the-art production facility located in Soria, Spain. Cyndea is a global, market-leading supplier of generic, prescription, soft-gelatin capsules in the world and our partnership with Glenmark provides expanded access into North America."
About Cyndea Pharma
Cyndea Pharma specializes in the development and manufacturing of Women's Health Care and niche products using differentiated technologies to deliver value added products to its customers. Since 2012, it has established itself as one of the leading soft-gelatin developers and manufacturers in the world, supporting its partners in more than 90 countries.
About Glenmark Pharmaceuticals
Glenmark Pharmaceuticals Ltd. (GPL) is a global innovative pharmaceutical company with operations in more than 50 countries. Glenmark has a diverse pipeline with several compounds in various stages of clinical development, primarily focused in the areas of oncology, respiratory disease, and dermatology. Glenmark has improved the lives of millions of patients by offering safe, affordable medications for nearly 40 years. For more information, visit www.glenmarkpharma.com.
1 "Bioavailability & Solubility." Drug Development & Delivery. March 2015. http://www.drug-dev.com/Main/Back-Issues/SPECIAL-FEATURE-Bioavailability-Solubility-A-Deman-875.aspx. Last accessed June 21, 2017.
SOURCE Glenmark Pharmaceuticals