GLENMARK, INVAGEN BEGIN JOINT GENERICS VENTURE
Indian drug firm Glenmark Pharmaceuticals has signed a deal with U.S.-based InvaGen to market generic versions of seven brand drugs with a current annual U.S. market of $4.1 billion, in Glenmark's latest move to bolster its position in the U.S. market.
Glenmark has cut deals with a number of U.S.-based drugmakers to tap the U.S. generics market, partly by acquiring or licensing rights to already-approved generic drugs. Glenmark is poised to "close FY 2006 with a portfolio of roughly 20 ANDAs [abbreviated new drug applications] filed during the year," the company said.
InvaGen and Glenmark will jointly develop and market a combination of patent-protected and off-patent drugs and split all costs and profits, Glenmark said, but did not indicate what drugs the partners plan to market. InvaGen will develop and license the drugs to Glenmark, as well as file generic drug applications with the FDA, while Glenmark will obtain U.S. regulatory approvals. One application has been filed and three more should be filed by March 2006, Glenmark said.
Earlier this year, Glenmark and InvaGen agreed to jointly market a generic version of Bristol-Myers Squibb's hypertension drug Monopril (fosinopril sodium). Glenmark this year also purchased two ANDAs from Irish drugmaker Clonmel, licensed generic naproxen and generic nitroglycerin from U.S. drug firms Interpharm and Konec, respectively, and agreed to collaborate with Indian drugmaker Shasun on 13 generic products for the U.S. market.