Glenmark Pharmaceuticals Enters Exclusive Collaboration Agreement with SCD Pharmaceuticals
PARAMUS, N.J., Feb. 21, 2018 /PRNewswire/ -- Glenmark Pharmaceuticals, a global pharmaceutical company, today announced it has entered into an exclusive agreement with Sam Chun Dang Pharm. Co. Ltd. (SCD), to develop, manufacture and market a portfolio of ophthalmic products in the U.S. and Canada. Under this agreement, these products will be developed and manufactured by SCD in South Korea. Glenmark will seek all market authorizations and commercialize the products in North America.
"The agreement for these ophthalmic products is aligned with our strategy to strengthen our focus on complex generic formulations," said Robert Matsuk, President, North America & Global API at Glenmark Pharmaceuticals. "Our strategic partnership with SCD supports our objective to expand the product offerings of our complex generic portfolio."
It is expected that Glenmark will file six Abbreviated New Drug Applications (ANDAs) beginning in the first half of 2019 for the licensed SCD ophthalmic products. According to IMS sales figures, the U.S. brand sales for the six products was approximately $1.7 billion for calendar year 2017.
About Sam Chun Dang Pharm. Co. Ltd.
Established in 1943 and based in Seoul, South Korea, SCD develops and manufactures ophthalmic solutions, solid orals, nasal solutions and ampules for a wide range of therapeutic classes. SCD actively expands distribution networks worldwide and focuses on regulated markets with a wide range of ophthalmic products. Currently, SCD exports its products to Asia, the Middle East, North America, and throughout Latin America.
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 glenmarkpharma-us.com.
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SOURCE Glenmark Pharmaceuticals