Glenmark partners with Yuhan Corp for Ryaltris

The pharma major has signed an exclusive licensing agreement with Yuhan Corporation for commercializing investigational SAR nasal spray Ryaltris in South Korea. Glenmark will manufacture the drug and receive upfront and milestone payments from Yuhan.

Ryaltris is Glenmark's leading respiratory pipeline asset indicated for the treatment of seasonal allergic rhinitis (SAR). Ryaltris is a novel combination of antihistamine (olopatadine hydrochloride, 665 mcg) and investigational steroid (mometasone furoate, 25 mcg).

According to the terms of the partnership, Glenmark will manufacture and supply the product, while Yuhan will deal with the regulatory filing and commercialization of Ryaltris in South Korea. Glenmark will be eligible for upfront payment and milestone payments (regulatory and commercial) and royalties from Yuhan for the nasal spray.

On Thursday, the stock of Glenmark Pharmaceuticals opened at Rs. 657.50 per share and hit an intraday high of Rs. 667.25 per share and an intraday low of Rs. 652.25 per share. At 15:03 hours, the stock was quoting Rs. 667.25 per share, up by 1.64 per cent on Thursday. While the benchmark index BSE Sensex was at 36,110.43, down by 102.48 points or 0.28 per cent.