Glenmark, Shasun to Sell Generics in the U.S.

Glenmark Pharmaceuticals Ltd. said it will jointly develop and sell 12 generic drugs in the United States with Shasun Chemicals & Drugs Ltd. Shasun will develop and license the drugs to Glenmark, which will file the abbreviated new drug applications (ANDAs) in the United States and obtain regulatory approvals. The ANDAs will be filed over a period of three years, starting in 2005, Glenmark said in a statement. The tie-up will include a range of drugs, patented and nonpatented, with cumulative annual sales of $8 billion in the U.S. market, the statement said.

Reuters (http://www.reuters.com/newsArticle.jhtml?storyID=8012494&type=businessNews)