MUMBAI, INDIA: Glenmark Therapeutics Inc., USA, a wholly-owned subsidiary of Glenmark Holding SA., has announced a co-promotion agreement with Otonomy Inc., a biopharmaceutical company dedicated to the development of innovative therapeutics for neurotology.[the_ad id=”31605″]Glenmark Therapeutics is dedicated to developing and commercializing a franchise of branded products for Glenmark Pharmaceuticals and is focused in the areas of respiratory and dermatology.
Financial terms for the multi-year agreement were not disclosed; however, Glenmark Therapeutics will provide Otonomy an annual co-promotion fee and provide reimbursement of a proportion of product support expenses.
In addition, Otonomy will retain a share of the adjusted gross profits from the sale of OTIPRIO to Glenmark’s accounts. Commercial rights for use of OTIPRIO in other indications, including treatment of bilateral otitis media with effusion in patients 6 months and older who need ear tubes, will remain with Otonomy.
“We are pleased to collaborate with Otonomy on this agreement which represents an excellent opportunity to fit within our respiratory franchise and supports our strategy of maintaining commercial emphasis on specialists,” said Robert Matsuk, President North America for Glenmark Therapeutics.
“With FDA review of our first New Drug Application for Ryaltris well underway, we remain focused on developing new partnerships that bolster our specialty portfolio and commercial footprint in the U.S. This agreement is a clear example of Glenmark Therapeutics’ efforts to maximize and grow our presence by pursuing opportunities both through external partnerships and our internal R&D pipeline.”