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Glenmark, Teijin tie up
MUMBAI:
Glenmark Pharmaceuticals SA, a subsidiary of Glenmark Pharmaceuticals Ltd (GPL), has out licensed its asthma drug GRC 3886 for $53 million to Teijin Pharma which would allow the latter to develop and market the drug in Japan. "As per the agreement Teijin Pharma will have the exclusive right to develop, register and commercialise GRC 3886 for all potential indications for which the product might receive approval in the Japanese market,'' the GPL Managing Director and CEO, Glenn Saldanha, told reporters here today.
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