Glenmark Pharmaceuticals, a research-led, global integrated pharmaceutical company, today announced that its subsidiary Glenmark Specialty S.A. in Switzerland and an affiliate of Bausch Health Compes Inc. have entered into an exclusive licensing agreement for the commercialization of Glenmark's innovative nasal spray RYALTRIS under review by Health Canada.
Under the terms of the agreement, Glenmark will be responsible for regulatory approvals and supply of RYALTRIS for the Canadian market. Bausch Health, Canada will be responsible for the commercialization of RYALTRIS in the Canadian market, following regulatory approval. Glenmark will receive an upfront payment, launch & sales-based milestone payments in addition to royalties and supply price from sales of RYALTRIS.
RYALTRIS (Olopatadine Hydrochloride 665 mcg and Mometasone Furoate 25 mcg), is currently under review by Health Canada with a proposed indication for the treatment of seasonal allergic rhinitis in adults and children over 12 years of age.
Commenting on the agreement, Sanjeev Krishan, President & Business Head - North America, Glenmark Pharmaceuticals, said, "We are pleased to partner with Bausch Health Canada, and recognize their strong foothold in the prescription and OTC market in Canada. This agreement will help us reach a larger patient population and extend the multiple benefits of RYALTRIS ™ to a significant market. Glenmark continues to build a strong portfolio in respiratory medicine, and RYALTRIS marks our first truly global brand launch to date."
"We are pleased to add Ryaltris to our allergy product portfolio and eager to make it available to Canadian patients suffering from allergies," said Richard Lajoie, President of Bausch Health, Canada.
In Canada, allergic rhinitis is estimated to afflict 25 per cent of the population and can have a significant impact on sleep, work and school performances. When approved in Canada, RYALTRIS will offer a fixed-dose combination of two different classes of medications in a convenient nasal spray presentation. A combination of intranasal antihistamines and intranasal corticosteroids may be beneficial and provide an additive effect on efficacy, resulting in superior relief of seasonal allergic rhinitis symptoms compared with monotherapyii.
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( With inputs from ANI )
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