Glenmark Therapeutics enters agreement with Otonomy

Glenmark Therapeutics Inc. USA has entered into a co-promotion agreement with Otonomy, Inc. which is a biopharmaceutical company dedicated to the development of innovative therapeutics for neurotology.

This agreement will give Glenmark Therapeutics an exclusive right to promote OTIPRIO (ciprofloxacin otic suspension) for the treatment of acute otitis externa (AOE) in patients six months of age and older due to Pseudomonas aeruginosa and Staphylococcusaureus in ear, nose and throat.

Although, the financial terms for this multi-year agreement have not been disclosed by the companies, it is stated that Glenmark Therapeutics will provide Otonomy an annual co-promotion fee and reimbursement of a proportion of product support expenses. Also, 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 will remain with Otonomy.

Glenmark Therapeutics is dedicated to developing and commercialising a franchise of branded products for Glenmark Pharmaceuticals and is focused in the areas of respiratory and dermatology.

Ryaltris (olopatadine hydrochloride [665 mcg] and mometasone furoate [25 mcg]), formerly GSP 301 Nasal Spray, is the company’s leading respiratory pipeline asset and currently under review with the USFDA as a treatment of seasonal allergic rhinitis in patients 12 years and older.

On Friday, the stock of Glenmark Pharmaceuticals opened at Rs. 626.05 per share. In the morning trading session, it touched Rs. 629.50 and later got corrected to Rs. 618.80.