Glenmark, Celon sign deal for generic Seretide Accuhaler in EuropeBusiness News

October 24, 2015 11:32
Glenmark, Celon sign deal for generic Seretide Accuhaler in Europe},{Glenmark, Celon sign deal for generic Seretide Accuhaler in Europe

(Image source from: Glenmark)

Glenmark Pharmaceuticals has signed a strategic development and licensing agreement with Celon Pharma, a Poland-based company, for the development and marketing of its generic version of Seretide Accuhaler in Europe targeting the treatment of lung diseases. GSK's Seretide Accuhaler product, fluticasone and salmeterol, is a dry powder inhaler to treat chronic obstructive pulmonary disease.

"As per the terms of the agreement, Glenmark has obtained semi-exclusive marketing and distribution rights of the product across 15 European countries including Great Britain, Germany, Belgium, the Netherlands, Italy, Sweden, Norway and Romania, among others," Glenmark said in a statement.

As per the deal, Celon will earn an upfront payment and certain milestone payments at different stages of the product's development, including royalties on sales, from Glenmark.

The period of the distribution agreement was for 10 years, extendable to two years.

Glenmark Pharmaceuticals Chairman & MD Glenn Saldanha said, "The deal reinforces Glenmark's growing capabilities in the respiratory segment and is a significant step forward towards building a strong respiratory franchise in Europe."

Celon Pharma CEO Maciej Wieczorek said, "The common experiences of both companies in the area of manufacturing, commercialisation and distribution of inhaled drugs will translate into greater availability of combination therapy in a DPI inhaler in many European countries."

- Sumana

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Tagged Under :
Glenmark  Celon Pharma  Seretide Accuhaler