Indian and US Co signed pact for marketing generic drugs

16 December, 2005

An agreement has been jointly signed by India’s Glenmark Pharmaceuticals Ltd (BSE:532296) and US-based InvaGen Pharmaceuticals Inc for jointly developing, filing and marketing seven generic drugs in the US market. The product list includes a mixture of off-patent and patent-protected molecules with cumulative annual sales in the US of about US$4.1 million.

According to the agreement, Glenmark would be responsible for obtaining regulatory approval in the US market while InvaGen would develop and license to the company, seven generic products and undertake filing the Abbreviated New Drug Applications (ANDAs) as well. Once approved, Glenmark's US subsidiary, Glenmark Pharmaceuticals Inc, will exclusively market the products while InvaGen would manufacture and supply them.


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