The transaction will happen in Russia, Ukraine, Kazakhstan and Uzbekistan in anticipation of its “Ryaltris” Launch
Mumbai, NFAPost: Glenmark Pharmaceuticals Ltd. announced that it has entered into a definitive agreement with Dr. Reddy’s Laboratories Ltd. to divest – subject to completion of certain precedent actions and closing activities – its brand Momat Rino (for Russia, Kazakhstan and Uzbekistan), Momat Rino Advance (for Russia), Momat A (for Kazakhstan and Uzbekistan), Glenspray and Glenspray Active (for Ukraine), along with rights to the trademarks, dossiers and patents for the territories mentioned.
The divested brand and its extensions represent two types of products, (a) Mometasone mono product and (b) combination of Mometasone with Azelastine, and are indicated for the treatment of Seasonal and Perennial Allergic Rhinitis.
Commenting on the development, Glenmark Pharmaceuticals Limited Chief Commercial Officer Robert Crockart said it is in line with the company’s strategy to launch Ryaltris, global anti-allergy brand.
“The company has decided to launch it in the markets of Russia and other CIS countries and decided to divest the Momat Rino brand and its extension. As we await approval to launch Ryaltris in the Russian market, we look forward to strengthening our respiratory franchise in the Russia/CIS region. We remain committed to the respiratory space globally,” said Robert Crockart.
Glenmark Pharmaceuticals Ltd. (GPL) is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
Glenmark’s key therapy focus areas globally are respiratory, dermatology and oncology. It is ranked among the top 80 Pharma & Biotech companies of the world in terms of revenue (SCRIP 100 Rankings published in the year 2019).