Glenmark with Medicis Pharmaceutical Corporation to co-develop pharmaceutical product in North America

Glenmark outlicenses specialty drug to Medicis Pharma; to receive upfront $ 5 Mn for outlicensed drug

Glenmark Pharmaceuticals Limited has announced it has entered into an exclusive agreement with Medicis Pharmaceutical Corporation to co-develop and commercialize a specialty pharmaceutical product in North America for the treatment of acne vulgaris. The agreement focuses on a topical pharmaceutical product to be developed from Glenmark’s pipeline.

In a statement from Glenn Saldanha, Managing Director and CEO, Glenmark Pharmaceuticals mentioned that both Glenmark and Medicis have extensive experience in the dermatological market segment and this collaboration will allow the company to bring a promising new treatment alternative to patients.

Pursuant to terms of the agreement, Glenmark will receive a one-time up-front payment of $ 5 million from Medicis, and is eligible to receive additional payments upon achieving certain development milestones and royalty upon commercialization.

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